GameStop (NYSE:GME) Sees Large Volume Increase

GameStop Corp. (NYSE:GME) shares saw unusually-high trading volume on Tuesday . Approximately 1,960,792 shares were traded during trading, a decline of 37% from the previous session’s volume of 3,114,745 shares.The stock last traded at $15.02 and had previously closed at $15.12.

Wall Street Analysts Forecast Growth

GME has been the topic of a number of recent analyst reports. StockNews.com lowered shares of GameStop from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Wedbush reiterated an “underperform” rating and set a $6.00 target price on shares of GameStop in a research report on Thursday, November 30th.

GameStop Stock Performance

The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -503.83 and a beta of -0.42. The stock’s fifty day moving average is $14.29 and its two-hundred day moving average is $14.94. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.02.

Institutional Trading of GameStop

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of 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 purchasing an additional 2,105 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of GameStop by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after acquiring an additional 167,145 shares during the last quarter. Wellington Management Group LLP boosted its stake in GameStop by 312.2% in the fourth quarter. Wellington Management Group LLP now owns 77,097 shares of the company’s stock worth $1,352,000 after buying an additional 58,394 shares in the last quarter. Virtu Financial LLC bought a new stake in GameStop in the fourth quarter valued at approximately $316,000. Finally, Price T Rowe Associates Inc. MD lifted its position in GameStop by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 174,571 shares of the company’s stock valued at $3,061,000 after purchasing an additional 14,404 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.