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

GameStop Corp. (NYSE:GME) saw unusually large options trading activity on Friday. Traders purchased 424,192 call options on the company. This is an increase of 115% compared to the average daily volume of 197,111 call options.

GameStop Stock Up 6.2 %

GME opened at $24.91 on Friday. The firm has a market cap of $10.62 billion, a P/E ratio of 191.63 and a beta of -0.13. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83. The business’s fifty day simple moving average is $21.81 and its 200 day simple moving average is $22.64.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, equities analysts expect that GameStop will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 2,624 shares of the firm’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 $677,880. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Mark Haymond Robinson sold 11,000 shares of GameStop stock in a transaction 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 transaction, the general counsel now owns 43,927 shares in the company, valued at $914,560.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel William Moore sold 2,624 shares of GameStop stock in a transaction on Friday, October 11th. The stock was sold at an average price of $21.00, for a total value of $55,104.00. Following the transaction, the insider now owns 32,280 shares in the company, valued at approximately $677,880. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is owned by insiders.

Institutional Trading of GameStop

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in GameStop by 8.1% during the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock worth $41,866,000 after buying an additional 136,785 shares during the period. Renaissance Technologies LLC grew its stake in GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after purchasing an additional 342,178 shares in the last quarter. Swiss National Bank grew its stake in GameStop by 46.0% during the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after purchasing an additional 249,100 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of GameStop in the 2nd quarter worth approximately $9,577,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of GameStop by 2.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 304,884 shares of the company’s stock worth $3,817,000 after purchasing an additional 8,437 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Analysts Set New Price Targets

GME has been the subject of a number of research analyst reports. Wedbush lowered their price target on 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 GameStop to a “sell” rating in a research note on Saturday, October 19th.

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.