GameStop (NYSE:GME) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

GameStop Corp. (NYSE:GME) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.85 and traded as high as $25.08. GameStop shares last traded at $24.9860, with a volume of 4,466,128 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on GME. Weiss Ratings upgraded shares of GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Wall Street Zen cut shares of GameStop from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GameStop has an average rating of “Reduce” and a consensus target price of $13.50.

GameStop Stock Up 1.9%

The company has a market capitalization of $11.20 billion, a PE ratio of 33.31 and a beta of 1.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 14.68 and a current ratio of 15.30. The stock’s 50 day moving average is $23.83 and its 200 day moving average is $22.85.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.47 billion. GameStop had a net margin of 11.53% and a return on equity of 12.47%.

Insider Buying and Selling

In related news, insider Daniel William Moore sold 7,210 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total transaction of $165,397.40. Following the sale, the insider directly owned 101,014 shares in the company, valued at approximately $2,317,261.16. This represents a 6.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 3,912 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $23.19, for a total transaction of $90,719.28. Following the sale, the general counsel owned 115,230 shares in the company, valued at $2,672,183.70. The trade was a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,331 shares of company stock worth $421,491 over the last 90 days. 8.58% of the stock is currently owned by corporate insiders.

Institutional Trading of GameStop

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake 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. purchased a new stake in GameStop in the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in GameStop by 226.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after purchasing an additional 886 shares in the last quarter. Advisory Services Network LLC purchased a new stake in GameStop in the 3rd quarter worth approximately $39,000. Finally, Los Angeles Capital Management LLC purchased a new stake in GameStop in the 4th quarter worth approximately $39,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Company Profile

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.