Stock Traders Buy High Volume of Call Options on GameStop (NYSE:GME)

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

GameStop Trading Up 2.2 %

Shares of NYSE GME opened at $30.34 on Wednesday. The firm has a market capitalization of $12.94 billion, a P/E ratio of 233.35 and a beta of -0.13. The firm’s 50-day moving average price is $23.17 and its 200-day moving average price is $23.96. GameStop has a 1-year low of $9.95 and a 1-year high of $64.83.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. Equities research analysts forecast that GameStop will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total transaction of $229,020.00. Following the completion of the transaction, the general counsel now owns 43,927 shares in the company, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $21.00, for a total transaction of $55,104.00. Following the completion of the transaction, the insider now owns 32,280 shares in the company, valued at $677,880. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GameStop

Institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC grew its stake in shares of GameStop by 41.7% in the 2nd 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. GAMMA Investing LLC increased its stake in 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 buying an additional 511 shares during the last quarter. CWM LLC lifted its position in shares of GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after buying an additional 529 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of GameStop by 535.8% in 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 during the last quarter. Finally, United Services Automobile Association grew its holdings in shares of GameStop by 4.6% in the third quarter. United Services Automobile Association now owns 22,500 shares of the company’s stock valued at $516,000 after acquiring an additional 999 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GME shares. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush cut their price target on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th.

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.