GameStop (NYSE:GME) Trading 4.3% Higher – What’s Next?

GameStop Corp. (NYSE:GME)’s stock price traded up 4.3% during trading on Wednesday . The company traded as high as $24.19 and last traded at $23.65. 1,649,109 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 19,831,727 shares. The stock had previously closed at $22.68.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush dropped their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Stock Performance

The company’s fifty day moving average price is $21.61 and its 200-day moving average price is $22.10. The stock has a market cap of $9.46 billion, a P/E ratio of 170.71 and a beta of -0.19.

GameStop (NYSE:GME) last released its 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. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. During the same quarter last year, the business earned ($0.03) EPS. The business’s revenue was down 31.4% on a year-over-year basis. Analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $21.00, for a total transaction of $55,104.00. Following the sale, the insider now owns 32,280 shares of the company’s stock, valued at approximately $677,880. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other GameStop news, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $21.00, for a total transaction of $55,104.00. Following the sale, the insider now owns 32,280 shares of the company’s stock, valued at approximately $677,880. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total transaction of $229,020.00. Following the sale, the general counsel now directly owns 43,927 shares in the company, valued at approximately $914,560.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,639 shares of company stock valued at $481,000. Insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Several institutional investors and hedge funds have recently bought and sold shares of the business. AlphaMark Advisors LLC lifted its stake in GameStop by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after acquiring an additional 396 shares during the period. GAMMA Investing LLC lifted its stake in GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after acquiring an additional 511 shares during the period. CWM LLC lifted its stake in GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after acquiring an additional 529 shares during the period. UMB Bank n.a. lifted its stake in GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after acquiring an additional 959 shares during the period. Finally, Swiss National Bank lifted its stake in GameStop by 0.3% during the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after acquiring an additional 1,400 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.