GameStop (NYSE:GME) Shares Up 4.1% - Still a Buy?

GameStop Corp. (NYSE:GME - Get Free Report) rose 4.1% during mid-day trading on Friday . The company traded as high as $21.55 and last traded at $21.97. 2,006,746 shares were traded during trading, a decline of 90% from the average session volume of 20,024,398 shares. The stock had previously closed at $21.10.

Analyst Ratings Changes

A number of equities research analysts recently commented on GME shares. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th. Wedbush set a $11.50 target price on GameStop in a research note on Wednesday, March 26th.

GameStop Trading Down 3.9 %

The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 129.67 and a beta of -0.44. The stock's 50 day moving average is $24.77 and its 200 day moving average is $25.81.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company's revenue for the quarter was down 28.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, equities research analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

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Insider Activity at GameStop

In other news, insider Daniel William Moore sold 1,608 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the sale, the insider now owns 29,777 shares of the company's stock, valued at approximately $670,875.81. This represents a 5.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Cheng acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $21.54 per share, for a total transaction of $107,700.00. Following the completion of the purchase, the director now directly owns 83,000 shares of the company's stock, valued at $1,787,820. The trade was a 6.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GME. Charles Schwab Investment Management Inc. lifted its stake in GameStop by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company's stock valued at $113,146,000 after purchasing an additional 107,354 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of GameStop in the 4th quarter valued at $878,000. Retirement Systems of Alabama lifted its stake in shares of GameStop by 41.7% in the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company's stock valued at $10,804,000 after acquiring an additional 138,597 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of GameStop by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company's stock valued at $80,401,000 after acquiring an additional 60,673 shares in the last quarter. Finally, Swiss National Bank grew its position in GameStop by 5.5% during the 4th quarter. Swiss National Bank now owns 834,228 shares of the company's stock worth $26,145,000 after acquiring an additional 43,700 shares during the last quarter. Institutional investors own 29.21% of the company's stock.

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.