GCL Global (NASDAQ:GCL) Shares Up 0.5% - Still a Buy?

Key Points

• GCL Global shares rose 0.5% to approximately $0.7873 in mid-day trading, with volume about 15% above its average. The stock’s 50-day and 200-day moving averages were $0.61 and $0.54, respectively.
• Despite a recent upgrade from “sell (d-)” to “sell (d),” the company retains a consensus Sell rating from analysts. GCL reported a quarterly loss of $0.08 per share on $70.1 million in revenue.
• The board approved a $10 million share-repurchase program, allowing buybacks of up to 11.6% of outstanding shares. Institutional investors own 36.55% of the company, while Citadel Advisors recently purchased 95,620 shares.

Shares of GCL Global Holdings Ltd. (NASDAQ:GCL - Get Free Report) shot up 0.5% during mid-day trading on Wednesday. The stock traded as high as $0.81 and last traded at $0.7873. Approximately 140,768 shares were traded during trading, an increase of 15% from the average daily volume of 122,665 shares. The stock had previously closed at $0.7835.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded GCL Global from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of "Sell".

GCL Global Price Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.13 and a current ratio of 1.52. The stock has a market capitalization of $100.78 million, a PE ratio of -39.37 and a beta of 0.31. The stock's 50 day moving average is $0.61 and its two-hundred day moving average is $0.54.

GCL Global (NASDAQ:GCL - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported ($0.08) EPS for the quarter. The business had revenue of $70.10 million during the quarter.

GCL Global declared that its Board of Directors has authorized a share repurchase plan on Friday, August 28th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On GCL Global

A hedge fund recently bought a new position in GCL Global stock. Citadel Advisors LLC bought a new stake in GCL Global Holdings Ltd. (NASDAQ:GCL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 95,620 shares of the company's stock, valued at approximately $43,000. Citadel Advisors LLC owned about 0.07% of GCL Global as of its most recent SEC filing. Institutional investors own 36.55% of the company's stock.

GCL Global Company Profile

GCL Global Holdings Limited is a video game and interactive entertainment company that develops, publishes and distributes digital games. Its activities include bringing video game content to consumers across platforms such as personal computers, game consoles and mobile devices, as well as supporting the commercialization and distribution of third-party titles.

The company serves international gaming markets through a combination of digital distribution, publishing and related entertainment services.

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