Nintendo (OTCMKTS:NTDOY) Reaches New 1-Year High - Here's Why

Nintendo Co., Ltd. (OTCMKTS:NTDOY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.90 and last traded at $16.70, with a volume of 3664444 shares trading hands. The stock had previously closed at $16.25.

Wall Street Analysts Forecast Growth

Separately, TD Cowen initiated coverage on Nintendo in a research report on Monday, October 7th. They issued a "buy" rating on the stock.

Nintendo Trading Up 0.9 %

The stock has a market capitalization of $85.71 billion, a PE ratio of 35.11 and a beta of 0.45. The firm's 50-day moving average price is $14.90 and its 200-day moving average price is $13.90.

Nintendo (OTCMKTS:NTDOY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.25 billion. Nintendo had a return on equity of 12.78% and a net margin of 23.37%. On average, equities research analysts predict that Nintendo Co., Ltd. will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Nintendo by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 12,948 shares of the company's stock worth $189,000 after buying an additional 4,509 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Nintendo in the 3rd quarter worth $99,000. Diversified Trust Co acquired a new position in shares of Nintendo in the fourth quarter worth about $182,000. Fulton Bank N.A. acquired a new position in Nintendo in the 4th quarter worth approximately $200,000. Finally, Kornitzer Capital Management Inc. KS increased its stake in Nintendo by 49.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 150,320 shares of the company's stock valued at $2,215,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 0.02% of the company's stock.

Nintendo Company Profile

Nintendo Co, Ltd., together with its subsidiaries, develops, manufactures, and sells home entertainment products in Japan, the Americas, Europe, and internationally. It also offers video game platforms, playing cards, Karuta, and other products; and handheld and home console hardware systems and related software.