GameStop (NYSE:GME) Stock Price Up 4.1% - Here's What Happened

GameStop Corp. (NYSE:GME - Get Free Report)'s stock price rose 4.1% during trading on Friday . The company traded as high as $21.55 and last traded at $21.97. Approximately 2,006,746 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 20,024,398 shares. The stock had previously closed at $21.10.Analyst Ratings ChangesNewsmax’s IPO Whiplash: Meme Stock Hype or Growth Potential?Several brokerages have issued reports on GME. Wedbush set a $11.50 price objective on GameStop in a research note on Wednesday, March 26th. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th.Read Our Latest Report on GMEGameStop Trading Up 6.7 %3 Momentum Stocks Near 52-Week Highs to Watch for More GrowthThe firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 124.57 and a beta of -0.29. The business has a 50-day moving average price of $24.92 and a two-hundred day moving average price of $25.67. GameStop (NYSE:GME - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm's quarterly revenue was down 28.5% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. On average, equities research analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year. Institutional Investors Weigh In On GameStopMaybe It’s Time to Buy Some GameStop StockSeveral large investors have recently made changes to their positions in GME. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after buying an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of GameStop in the fourth quarter worth $37,000. R Squared Ltd acquired a new position in shares of GameStop during the fourth quarter valued at $51,000. Bessemer Group Inc. raised its stake in shares of GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after purchasing an additional 691 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock. About GameStop (Get Free Report)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.Featured StoriesFive stocks we like better than GameStopWhat is the Dogs of the Dow Strategy? Overview and ExamplesArcher Aviation’s Africa Deal Could Boost ACHR StockWhat is Insider Trading? What You Can Learn from Insider TradingAre Short Sellers Wrong About These 3 Semiconductor Stocks?Insider Buying Explained: What Investors Need to KnowBoeing Gets $50B in March Orders—Is BA Stock a Buy Now?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in GameStop Right Now?Before you consider GameStop, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GameStop wasn't on the list.While GameStop currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here