GameStop (NYSE:GME) Shares Cross Above 200-Day Moving Average - Time to Sell?

GameStop Corp. (NYSE:GME - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.23 and traded as high as $31.59. GameStop shares last traded at $31.14, with a volume of 5,523,507 shares traded.

Analyst Ratings Changes

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

GameStop Price Performance

The stock has a market cap of $14.74 billion, a PE ratio of 183.29 and a beta of -0.11. The stock has a 50-day moving average price of $26.42 and a two-hundred day moving average price of $24.27.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.09. The business had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company's revenue was down 20.2% on a year-over-year basis. Equities research analysts expect that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 2,624 shares of GameStop stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the transaction, the insider now owns 32,280 shares in the company, valued at approximately $677,880. The trade was a 7.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the sale, the general counsel now owns 54,927 shares in the company, valued at $1,206,196.92. The trade was a 7.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock valued at $481,000 over the last 90 days. 12.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of GameStop by 46.1% in the third quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company's stock valued at $17,750,000 after acquiring an additional 244,339 shares during the period. Retirement Systems of Alabama grew its holdings in GameStop by 41.7% during the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company's stock valued at $10,804,000 after purchasing an additional 138,597 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of GameStop during the third quarter valued at approximately $230,000. Virtu Financial LLC bought a new position in shares of GameStop during the third quarter valued at approximately $285,000. Finally, Geode Capital Management LLC grew its stake in shares of GameStop by 41.8% during the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company's stock valued at $144,009,000 after buying an additional 1,852,088 shares during the last quarter. 29.21% of the stock is 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.