GameStop (NYSE:GME) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of GameStop Corp. (NYSE:GME) 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

Several analysts have recently weighed in on GME shares. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush reissued an “underperform” rating and issued a $10.00 price target on shares of GameStop in a research report on Friday, December 6th.

GameStop Stock Performance

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

GameStop (NYSE:GME) last announced its earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.09. The business had revenue of $860.30 million during 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%. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. On average, research analysts predict that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the sale, the general counsel now owns 54,927 shares in the company, valued at $1,206,196.92. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 2,376 shares of GameStop stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $21.50, for a total value of $51,084.00. Following the completion of the sale, the insider now directly owns 34,904 shares in the company, valued at $750,436. This represents a 6.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,639 shares of company stock valued at $481,000. Company insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

A number of hedge funds and other institutional investors have recently bought and sold shares of GME. Charles Schwab Investment Management Inc. increased its holdings in shares of GameStop by 22.6% in the 3rd 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. Algert Global LLC increased its holdings in GameStop by 270.5% in the third quarter. Algert Global LLC now owns 150,526 shares of the company’s stock valued at $3,452,000 after buying an additional 109,900 shares in the last quarter. Swiss National Bank lifted its position in shares of GameStop by 46.0% during the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after acquiring an additional 249,100 shares during the period. Retirement Systems of Alabama boosted its stake in shares of GameStop by 41.7% during the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after acquiring an additional 138,597 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of GameStop by 41.1% in the 3rd quarter. MetLife Investment Management LLC now owns 200,234 shares of the company’s stock worth $4,591,000 after acquiring an additional 58,356 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.