Shares of GameStop Corp. (NYSE:GME - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 22,432,904 shares changed hands during mid-day trading, an increase of 139% from the previous session's volume of 9,378,605 shares.The stock last traded at $35.02 and had previously closed at $33.03.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on GME shares. Wedbush set a $11.50 price target on GameStop in a research report on Wednesday, March 26th. Wall Street Zen upgraded GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th.
Get Our Latest Analysis on GME
GameStop Trading Up 4.1%
The company has a market capitalization of $15.37 billion, a P/E ratio of 191.46 and a beta of -0.76. The stock has a 50 day moving average price of $26.41 and a 200 day moving average price of $27.21.
GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the company posted $0.21 EPS. The company's revenue was down 28.5% on a year-over-year basis. On average, research analysts predict that GameStop Corp. will post 0.08 EPS for the current year.
Insider Activity
In other GameStop news, General Counsel Mark Haymond Robinson sold 4,687 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $105,598.11. Following the completion of the sale, the general counsel now directly owns 37,663 shares of the company's stock, valued at approximately $848,547.39. This represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the transaction, the insider now owns 29,777 shares in the company, valued at approximately $670,875.81. The trade was a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 515,000 shares of company stock worth $11,140,200 in the last three months. Company insiders own 12.28% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in shares of GameStop by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock valued at $294,000 after purchasing an additional 502 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in GameStop by 32.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock worth $67,000 after purchasing an additional 520 shares during the last quarter. Securian Asset Management Inc. boosted its position in GameStop by 1.8% during the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock valued at $963,000 after buying an additional 557 shares during the period. Fifth Third Bancorp boosted its position in GameStop by 11.1% during the fourth quarter. Fifth Third Bancorp now owns 5,648 shares of the company's stock valued at $177,000 after buying an additional 566 shares during the period. Finally, Yousif Capital Management LLC grew its stake in shares of GameStop by 0.4% during the fourth quarter. Yousif Capital Management LLC now owns 142,931 shares of the company's stock valued at $4,479,000 after buying an additional 628 shares during the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.
About GameStop
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider GameStop, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GameStop wasn't on the list.
While GameStop currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
