GameStop Sees Unusually Large Options Volume (NYSE:GME)

GameStop Corp. (NYSE:GME - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders bought 358,742 call options on the company. This is an increase of 69% compared to the average daily volume of 212,466 call options.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the sale, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel William Moore sold 895 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.

Institutional Investors Weigh In On GameStop

Several institutional investors have recently modified their holdings of GME. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock worth $31,000 after acquiring an additional 684 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in shares of GameStop during the fourth quarter worth $37,000. R Squared Ltd bought a new stake in GameStop in the fourth quarter valued at about $51,000. Bessemer Group Inc. lifted its stake in GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after buying an additional 691 shares during the period. Finally, UMB Bank n.a. boosted its holdings in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after buying an additional 682 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com upgraded GameStop from a "sell" rating to a "hold" rating in a research report on Thursday. Wedbush restated an "underperform" rating and set a $10.00 target price on shares of GameStop in a report on Monday, March 24th.

GameStop Price Performance

Shares of GME stock traded down $0.33 during trading hours on Friday, reaching $21.77. 44,685,450 shares of the company were exchanged, compared to its average volume of 20,039,283. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The stock's fifty day moving average is $25.36 and its two-hundred day moving average is $25.66. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 120.92 and a beta of -0.29.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business's revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. On average, research analysts anticipate that GameStop will post 0.08 earnings per share for the current year.

About GameStop

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.