GameStop (NYSE:GME) Shares Cross Above 200-Day Moving Average – Here’s What Happened

GameStop Corp. (NYSE:GME) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.23 and traded as high as $31.59. GameStop shares last traded at $31.14, with a volume of 5,523,507 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th. StockNews.com raised GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Stock Performance

The company has a market capitalization of $13.91 billion, a PE ratio of 173.01 and a beta of -0.11. The company’s fifty day moving average is $26.23 and its 200-day moving average is $24.23.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. GameStop’s revenue was down 20.2% compared to the same quarter last year. On average, sell-side analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. The trade was a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $43,305.12. Following the transaction, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,639 shares of company stock worth $481,000 over the last ninety days. Corporate insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

Several large investors have recently made changes to their positions in GME. State Street Corp grew its holdings in GameStop by 38.0% during the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock valued at $255,526,000 after buying an additional 3,070,571 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of GameStop by 41.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock valued at $144,009,000 after acquiring an additional 1,852,088 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of GameStop by 22.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after purchasing an additional 646,488 shares in the last quarter. Van ECK Associates Corp increased its position in GameStop by 8.1% in the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock worth $41,866,000 after purchasing an additional 136,785 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in GameStop by 34.0% during the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after purchasing an additional 342,178 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

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.