GameStop (NYSE:GME) Trading 4.1% Higher - Here's What Happened

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

Wall Street Analysts Forecast Growth

GME has been the topic of several recent research reports. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th.

GameStop Stock Up 3.3 %

The stock has a fifty day moving average of $24.50 and a two-hundred day moving average of $25.83. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 143.79 and a beta of -0.44.

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

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Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the sale, the insider now owns 29,777 shares of the company's stock, valued at $670,875.81. This represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alain Attal acquired 10,000 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were acquired at an average cost of $25.75 per share, with a total value of $257,500.00. Following the completion of the purchase, the director now owns 572,464 shares in the company, valued at approximately $14,740,948. This represents a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 515,000 shares of company stock worth $11,140,200. 12.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Institutional investors have recently made changes to their positions in the stock. First National Corp MA ADV increased its stake in GameStop by 96.9% in the first quarter. First National Corp MA ADV now owns 30,863 shares of the company's stock valued at $689,000 after purchasing an additional 15,185 shares during the last quarter. Selway Asset Management boosted its holdings in GameStop by 57.9% in the first quarter. Selway Asset Management now owns 45,000 shares of the company's stock valued at $1,004,000 after acquiring an additional 16,500 shares during the last quarter. GAMMA Investing LLC grew its position in GameStop by 3,692.6% during the first quarter. GAMMA Investing LLC now owns 135,170 shares of the company's stock valued at $3,017,000 after acquiring an additional 131,606 shares during the period. California State Teachers Retirement System increased its stake in GameStop by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 394,588 shares of the company's stock worth $12,366,000 after acquiring an additional 13,576 shares during the last quarter. Finally, United Advisor Group LLC raised its holdings in shares of GameStop by 216.8% in the 4th quarter. United Advisor Group LLC now owns 42,740 shares of the company's stock worth $1,339,000 after purchasing an additional 29,250 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

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.