GameStop (NYSE:GME) Shares Up 3.5% – What’s Next?

GameStop Corp. (NYSE:GME) shot up 3.5% on Tuesday . The company traded as high as $31.42 and last traded at $30.46. 4,561,886 shares changed hands during trading, a decline of 76% from the average session volume of 18,933,855 shares. The stock had previously closed at $29.44.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wedbush reiterated an “underperform” rating and issued a $10.00 target price on shares of GameStop in a report on Friday, December 6th. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Stock Up 4.9 %

The firm has a market cap of $13.80 billion, a PE ratio of 175.67 and a beta of -0.11. The stock’s fifty day simple moving average is $25.12 and its two-hundred day simple moving average is $24.25.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. GameStop’s quarterly revenue was down 20.2% on a year-over-year basis. On average, equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the sale, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This represents a 7.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 2,376 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $21.50, for a total transaction of $51,084.00. Following the completion of the sale, the insider now directly owns 34,904 shares in the company, valued at approximately $750,436. This trade represents a 6.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,639 shares of company stock worth $481,000. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

A number of hedge funds have recently modified their holdings of GME. Charles Schwab Investment Management Inc. increased its stake in GameStop by 22.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after acquiring an additional 646,488 shares during the last quarter. Algert Global LLC boosted its holdings in shares of GameStop by 270.5% during the 3rd quarter. Algert Global LLC now owns 150,526 shares of the company’s stock worth $3,452,000 after buying an additional 109,900 shares during the period. Swiss National Bank increased its position in shares of GameStop by 46.0% during the third quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after purchasing an additional 249,100 shares during the period. MetLife Investment Management LLC raised its position in GameStop by 41.1% in the third quarter. MetLife Investment Management LLC now owns 200,234 shares of the company’s stock worth $4,591,000 after purchasing an additional 58,356 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of GameStop by 35.9% during the third quarter. Mutual of America Capital Management LLC now owns 209,616 shares of the company’s stock valued at $4,806,000 after purchasing an additional 55,346 shares during the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.