GameStop Sees Unusually Large Options Volume (NYSE:GME)

GameStop Corp. (NYSE:GME - Get Free Report) was the target of unusually large options trading on Friday. Traders bought 424,192 call options on the stock. This represents an increase of approximately 115% compared to the typical daily volume of 197,111 call options.

Insider Transactions at GameStop

In related news, insider Daniel William Moore sold 2,624 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the sale, the insider now owns 32,280 shares of the company's stock, valued at approximately $677,880. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Daniel William Moore sold 2,624 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $21.00, for a total value of $55,104.00. Following the transaction, the insider now directly owns 32,280 shares in the company, valued at approximately $677,880. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the transaction, the general counsel now owns 54,927 shares of the company's stock, valued at $1,206,196.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock worth $481,000 in the last quarter. Company insiders own 12.28% of the company's stock.

Hedge Funds Weigh In On GameStop

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of GameStop in the second quarter valued at $9,577,000. Renaissance Technologies LLC raised its position in GameStop by 34.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company's stock valued at $33,261,000 after purchasing an additional 342,178 shares in the last quarter. Swiss National Bank boosted its stake in shares of GameStop by 46.0% in the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company's stock valued at $18,127,000 after buying an additional 249,100 shares during the period. Van ECK Associates Corp grew its position in shares of GameStop by 14.2% during the second quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company's stock worth $41,702,000 after buying an additional 209,861 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of GameStop by 659.6% during the first quarter. Tidal Investments LLC now owns 139,723 shares of the company's stock worth $1,749,000 after buying an additional 121,328 shares during the period. Hedge funds and other institutional investors own 29.21% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com raised shares of GameStop to a "sell" rating in a research note on Saturday, October 19th. Wedbush lowered their price objective on shares of GameStop from $11.00 to $10.00 and set an "underperform" rating for the company in a research report on Wednesday, September 11th.

GameStop Price Performance

Shares of GME stock traded up $1.43 on Friday, hitting $24.88. The stock had a trading volume of 15,908,649 shares, compared to its average volume of 5,711,826. The company's 50 day moving average price is $21.81 and its 200-day moving average price is $22.64. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The firm has a market capitalization of $10.61 billion, a P/E ratio of 191.38 and a beta of -0.13.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $798.30 million for the quarter, compared to analysts' expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business's quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, equities analysts forecast that GameStop will post 0.01 EPS 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.