GameStop Sees Unusually Large Options Volume (NYSE:GME)

GameStop Corp. (NYSE:GME) saw some unusual options trading on Friday. Stock investors purchased 350,625 call options on the company. This is an increase of 30% compared to the typical volume of 269,620 call options.

Insider Buying and Selling at GameStop

In related news, Director Lawrence Cheng acquired 10,000 shares of the business’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 in the company, valued at $730,287.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of GameStop stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the transaction, the general counsel now directly owns 50,837 shares of the company’s stock, valued at $515,995.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Cheng purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was acquired 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 directly owns 65,088 shares of the company’s stock, valued at $730,287.36. The disclosure for this purchase can be found here. Over the last three months, insiders sold 29,636 shares of company stock valued at $346,474. 12.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GameStop

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of GameStop in the 4th quarter valued at approximately $55,000. Russell Investments Group Ltd. grew its position in shares of GameStop by 147.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after purchasing an additional 3,025 shares during the period. First United Bank & Trust acquired a new position in shares of GameStop in the 4th quarter valued at approximately $70,000. Fifth Third Bancorp grew its position in shares of GameStop by 50.6% in the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after purchasing an additional 1,445 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of GameStop in the 1st quarter valued at approximately $153,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Trading Down 1.4 %

NYSE:GME traded down $0.40 on Friday, hitting $28.72. 82,381,089 shares of the stock were exchanged, compared to its average volume of 26,230,535. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 359.04 and a beta of -0.27. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83. The company’s 50-day moving average price is $19.78 and its 200 day moving average price is $16.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.22.

GameStop (NYSE:GME) last posted its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company had revenue of $881.80 million for the quarter, compared to analyst estimates of $995.30 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. GameStop’s quarterly revenue was down 28.7% compared to the same quarter last year. On average, equities research analysts forecast that GameStop will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wedbush dropped their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th.

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.