GameStop (NYSE:GME) Shares Up 3.5% - Should You Buy?

GameStop Corp. (NYSE:GME - Get Free Report)'s share price traded up 3.5% during mid-day trading on Friday . The stock traded as high as $24.32 and last traded at $24.33. 1,360,470 shares changed hands during trading, a decline of 93% from the average session volume of 19,309,492 shares. The stock had previously closed at $23.51.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated an "underperform" rating and issued a $10.00 target price on shares of GameStop in a research note on Monday.

GameStop Stock Down 0.9 %

The company's fifty day moving average price is $25.59 and its two-hundred day moving average price is $25.67. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 140.95 and a beta of -0.29.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business's revenue was down 28.5% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. Research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

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Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel William Moore sold 895 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

Institutional Trading of GameStop

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in shares of GameStop by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock worth $294,000 after buying an additional 502 shares during the period. Christensen King & Associates Investment Services Inc. grew its holdings in GameStop by 1.9% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock worth $853,000 after acquiring an additional 518 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock valued at $67,000 after acquiring an additional 520 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of GameStop by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company's stock valued at $575,000 after purchasing an additional 523 shares during the period. Finally, Securian Asset Management Inc. boosted its position in shares of GameStop by 1.8% in the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock worth $963,000 after purchasing an additional 557 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

About GameStop

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.