GameStop (NYSE:GME) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

GameStop Corp. (NYSE:GME)’s stock price crossed 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.

Wall Street Analyst Weigh In

GME has been the topic of a number of recent analyst reports. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush restated an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a report on Friday, December 6th.

GameStop Stock Up 5.9 %

The firm has a 50-day moving average price of $26.65 and a 200 day moving average price of $24.34. The firm has a market capitalization of $14.74 billion, a PE ratio of 183.29 and a beta of -0.11.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. The company had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s revenue for the quarter was down 20.2% compared to the same quarter last year. Equities research analysts expect that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 2,624 shares of GameStop stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the transaction, the insider now owns 32,280 shares in the company, valued at approximately $677,880. This trade represents a 7.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now directly owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. This represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,639 shares of company stock worth $481,000. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GME. CWM LLC raised its holdings in shares of GameStop by 19.9% in the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after purchasing an additional 529 shares in the last quarter. UMB Bank n.a. raised its stake in GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after buying an additional 959 shares in the last quarter. United Services Automobile Association lifted its holdings in GameStop by 4.6% during the 3rd quarter. United Services Automobile Association now owns 22,500 shares of the company’s stock worth $516,000 after buying an additional 999 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of GameStop by 6.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 17,815 shares of the company’s stock worth $408,000 after acquiring an additional 1,085 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of GameStop by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 77,067 shares of the company’s stock worth $1,903,000 after acquiring an additional 1,501 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

About GameStop

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.