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

GameStop Corp. (NYSE:GME) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 270,655 call options on the company. This is an increase of 39% compared to the typical volume of 195,008 call options.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares in the company, valued at $1,206,196.92. This trade represents a 7.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel William Moore sold 1,972 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. The trade was a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock valued at $481,000 over the last ninety days. 12.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GameStop

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after buying an additional 959 shares in the last quarter. AlphaMark Advisors LLC raised its stake in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after acquiring an additional 396 shares in the last quarter. Centerpoint Advisors LLC bought a new position in shares of GameStop in the second quarter worth about $47,000. GAMMA Investing LLC boosted its stake in shares of GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of GameStop by 147.2% during 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 last quarter. 29.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

GameStop Stock Performance

Shares of NYSE GME opened at $30.89 on Thursday. The stock has a market capitalization of $13.17 billion, a P/E ratio of 237.63 and a beta of -0.13. The stock’s fifty day moving average is $23.40 and its 200 day moving average is $24.01. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $895.67 million. During the same period last year, the firm earned ($0.03) EPS. The business’s quarterly revenue was down 31.4% compared to the same quarter last year. Equities research analysts forecast that GameStop will post 0.01 earnings per share 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.