GameStop (NYSE:GME) Stock Price Up 4.1% – Time to Buy?

GameStop Corp. (NYSE:GME)’s share price shot up 4.1% during mid-day trading on Friday . The company traded as high as $23.81 and last traded at $23.7410. 1,157,466 shares were traded during trading, a decline of 86% from the average session volume of 8,404,410 shares. The stock had previously closed at $22.81.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of GameStop from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 16th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell” and a consensus target price of $13.50.

GameStop Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 10.39 and a quick ratio of 9.77. The firm has a 50-day moving average of $21.82 and a 200 day moving average of $22.84. The company has a market capitalization of $10.62 billion, a PE ratio of 28.84 and a beta of -1.23.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $987.29 million. GameStop had a return on equity of 9.75% and a net margin of 11.08%.GameStop’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Daniel William Moore sold 5,477 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $20.44, for a total transaction of $111,949.88. Following the sale, the insider directly owned 108,224 shares in the company, valued at $2,212,098.56. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Cheng bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average cost of $22.87 per share, with a total value of $114,350.00. Following the acquisition, the director directly owned 88,000 shares in the company, valued at $2,012,560. This trade represents a 6.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 517,000 shares of company stock worth $10,925,150 and have sold 23,152 shares worth $480,059. 8.58% of the stock is currently owned by insiders.

Institutional Trading of GameStop

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in GameStop by 308.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock worth $26,000 after purchasing an additional 732 shares in the last quarter. City Holding Co. bought a new position in shares of GameStop during the third quarter worth $30,000. EverSource Wealth Advisors LLC grew its stake in GameStop by 226.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after acquiring an additional 886 shares in the last quarter. Advisory Services Network LLC bought a new stake in GameStop in the 3rd quarter valued at $39,000. Finally, Ameritas Advisory Services LLC purchased a new stake in GameStop in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.