GameStop Sees Unusually Large Options Volume (NYSE:GME)

GameStop Corp. (NYSE:GME) was the recipient of some unusual options trading activity on Wednesday. Investors bought 123,959 call options on the company. This represents an increase of approximately 81% compared to the typical volume of 68,382 call options.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now owns 64,308 shares in the company, valued at $746,615.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the transaction, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lawrence Cheng bought 10,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was bought at an average cost of $11.22 per share, with a total value of $112,200.00. Following the completion of the acquisition, the director now owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Insiders sold a total of 19,428 shares of company stock worth $205,702 over the last 90 days. Company insiders own 12.64% of the company’s stock.

Institutional Trading of GameStop

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its stake in GameStop by 2.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 77,300 shares of the company’s stock worth $968,000 after acquiring an additional 1,900 shares during the period. Revisor Wealth Management LLC purchased a new stake in GameStop in the 1st quarter worth approximately $236,000. State of Michigan Retirement System grew its stake in GameStop by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock worth $826,000 after acquiring an additional 1,600 shares during the period. PNC Financial Services Group Inc. grew its stake in GameStop by 21.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,025 shares of the company’s stock worth $211,000 after acquiring an additional 2,105 shares during the period. Finally, Vanguard Group Inc. grew its stake in GameStop by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Trading Up 7.5 %

Shares of GME opened at $10.93 on Thursday. 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 50 day simple moving average of $12.95 and a 200-day simple moving average of $14.11. GameStop has a 1-year low of $9.95 and a 1-year high of $27.65. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 546.25 and a beta of -0.45.

GameStop (NYSE:GME) last issued its quarterly earnings data 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). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a return on equity of 1.35% and a net margin of 0.13%. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. Equities analysts forecast that GameStop will post 0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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