Investors Purchase Large Volume of Call Options on GameStop (NYSE:GME)

GameStop Corp. (NYSE:GME) saw some unusual options trading activity on Wednesday. Stock investors bought 358,742 call options on the stock. This represents an increase of approximately 69% compared to the typical daily volume of 212,466 call options.

Analyst Ratings Changes

A number of equities research analysts have commented on GME shares. Wedbush reissued an “underperform” rating and set a $10.00 price objective on shares of GameStop in a report on Monday. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Thursday.

Insider Activity

In other news, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the transaction, the insider now directly owns 31,385 shares of the company’s stock, valued at $975,131.95. The trade was a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the sale, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after purchasing an additional 684 shares during the period. New Wave Wealth Advisors LLC bought a new position in GameStop during the fourth quarter worth about $37,000. R Squared Ltd acquired a new position in shares of GameStop during the 4th quarter worth about $51,000. Bessemer Group Inc. increased its stake in shares of GameStop by 67.2% in the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after acquiring an additional 691 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after acquiring an additional 682 shares during the period. 29.21% of the stock is owned by institutional investors.

GameStop Stock Down 22.8 %

GME stock opened at $21.89 on Friday. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83. The company has a market cap of $9.78 billion, a P/E ratio of 121.64 and a beta of -0.29. The business has a fifty day moving average of $25.48 and a 200-day moving average of $25.66.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue was down 28.5% on a year-over-year basis. As a group, equities research analysts anticipate that GameStop will post 0.08 earnings per share for the current fiscal 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.