Nintendo (OTCMKTS:NTDOY) Shares Gap Up After Analyst Upgrade

Shares of Nintendo Co. (OTCMKTS:NTDOY) gapped up before the market opened on Friday after Wolfe Research upgraded the stock from an underperform rating to a peer perform rating. The stock had previously closed at $15.81, but opened at $16.40. Nintendo shares last traded at $16.32, with a volume of 1,985,771 shares changing hands.

Separately, Freedom Capital raised Nintendo from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Nintendo currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. lifted its stake in shares of Nintendo by 34.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,462 shares of the company’s stock worth $59,000 after purchasing an additional 637 shares during the period. PNC Financial Services Group Inc. grew its position in Nintendo by 13.6% during the second quarter. PNC Financial Services Group Inc. now owns 6,040 shares of the company’s stock valued at $145,000 after buying an additional 724 shares during the period. Salomon & Ludwin LLC increased its holdings in Nintendo by 76.1% during the third quarter. Salomon & Ludwin LLC now owns 1,872 shares of the company’s stock valued at $40,000 after buying an additional 809 shares during the last quarter. Appleton Partners Inc. MA raised its position in Nintendo by 0.7% in the third quarter. Appleton Partners Inc. MA now owns 127,279 shares of the company’s stock worth $2,716,000 after acquiring an additional 837 shares during the period. Finally, GAMMA Investing LLC raised its position in Nintendo by 9.0% in the third quarter. GAMMA Investing LLC now owns 22,235 shares of the company’s stock worth $474,000 after acquiring an additional 1,835 shares during the period. 0.02% of the stock is owned by institutional investors.

Nintendo Trading Up 5.4%

The company’s 50 day moving average price is $18.21 and its two-hundred day moving average price is $20.76. The firm has a market cap of $86.60 billion, a PE ratio of 31.45 and a beta of 0.58.

Nintendo (OTCMKTS:NTDOY) last announced its earnings results on Tuesday, November 4th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $464.35 billion. Nintendo had a return on equity of 12.26% and a net margin of 21.10%. Equities research analysts expect that Nintendo Co. will post 0.44 earnings per share for the current fiscal year.

About Nintendo

Nintendo Co, Ltd., headquartered in Kyoto, Japan, is a global entertainment company best known for designing, manufacturing and marketing video game hardware and software. Founded in 1889 as a playing-card company, Nintendo transitioned into electronic entertainment in the latter half of the 20th century and has since become one of the most recognizable names in interactive entertainment. The company serves markets worldwide, with major operations and customer bases in Japan, North America and Europe, and it maintains a presence through regional subsidiaries, distribution partners and digital storefronts.

Nintendo’s business spans console and handheld hardware, first-party software titles, digital services and licensing.