Traders Buy Large Volume of GameStop Call Options (NYSE:GME)

GameStop Corp. (NYSE:GME) was the recipient of some unusual options trading on Friday. Investors acquired 311,688 call options on the stock. This is an increase of 116% compared to the average daily volume of 144,303 call options.

Insider Buying and Selling at GameStop

In other news, Director Lawrence Cheng acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was acquired at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the transaction, the director now directly owns 65,088 shares of the company’s stock, valued at approximately $730,287.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lawrence Cheng acquired 10,000 shares of the stock in a transaction on Monday, April 8th. The stock was acquired at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the transaction, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the sale, the general counsel now owns 50,837 shares of the company’s stock, valued at $515,995.55. The disclosure for this sale can be found here. Insiders sold 27,421 shares of company stock valued at $288,153 in the last three months. Corporate insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

Several hedge funds have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC increased its position in GameStop by 3.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 25,543 shares of the company’s stock valued at $420,000 after acquiring an additional 957 shares during the period. Treasurer of the State of North Carolina increased its holdings in GameStop by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock valued at $2,082,000 after purchasing an additional 1,160 shares during the period. Federated Hermes Inc. raised its position in GameStop by 3.8% during the 3rd quarter. Federated Hermes Inc. now owns 36,902 shares of the company’s stock worth $607,000 after purchasing an additional 1,363 shares during the last quarter. Swiss National Bank lifted its holdings in GameStop by 0.3% during the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after buying an additional 1,400 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of GameStop by 50.6% in the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after buying an additional 1,445 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Stock Up 3.7 %

Shares of GME opened at $19.00 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 950.48 and a beta of -0.25. The stock has a fifty day moving average of $15.48 and a 200-day moving average of $15.05.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. GameStop’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. As a group, sell-side analysts anticipate that GameStop will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush lifted their price target on shares of GameStop from $5.60 to $7.00 and gave the company an “underperform” rating in a report on Friday, May 17th.

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.