GameStop Target of Unusually Large Options Trading (NYSE:GME)

GameStop Corp. (NYSE:GME) saw unusually large options trading activity on Thursday. Investors bought 119,750 call options on the stock. This is an increase of 54% compared to the average volume of 77,690 call options.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 13,471 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total transaction of $136,730.65. Following the transaction, the general counsel now directly owns 50,837 shares of the company’s stock, valued at $515,995.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lawrence Cheng acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were acquired at an average cost of $11.22 per share, with a total value of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of GameStop stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total transaction of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,421 shares of company stock valued at $288,153. 12.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GameStop

A number of hedge funds have recently modified their holdings of GME. Fifth Third Bancorp lifted its holdings in GameStop by 175.6% in the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock valued at $47,000 after buying an additional 1,819 shares during the period. Headlands Technologies LLC acquired a new position in GameStop in the fourth quarter valued at $55,000. Russell Investments Group Ltd. lifted its holdings in GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after buying an additional 3,025 shares during the period. First United Bank & Trust acquired a new position in GameStop in the fourth quarter valued at $70,000. Finally, Cornerstone Investment Partners LLC acquired a new position in GameStop in the first quarter valued at $153,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

GameStop Stock Performance

Shares of GameStop stock opened at $15.91 on Thursday. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $27.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The firm has a market capitalization of $4.87 billion, a P/E ratio of 795.50 and a beta of -0.25. The company’s 50 day moving average price is $12.86 and its two-hundred day moving average price is $14.02.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). GameStop had a net margin of 0.13% and a return on equity of 1.35%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business earned $0.16 EPS. The business’s quarterly revenue was down 19.4% on a year-over-year basis. On average, equities analysts forecast that GameStop will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GME. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush cut their target price on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop Company Profile

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.