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

GameStop Corp. (NYSE:GME - Get Free Report) was the target of some unusual options trading on Wednesday. Traders bought 123,959 call options on the company. This is an increase of 81% compared to the average volume of 68,382 call options.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the transaction, the general counsel now owns 64,308 shares in the company, valued at $746,615.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the transaction, the general counsel now owns 64,308 shares in the company, valued at $746,615.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence Cheng purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average price of $11.22 per share, with a total value of $112,200.00. Following the transaction, the director now owns 65,088 shares of the company's stock, valued at approximately $730,287.36. The disclosure for this purchase can be found here. Insiders have sold a total of 19,428 shares of company stock valued at $205,702 over the last ninety days. 12.64% of the stock is currently owned by company insiders.

Institutional Trading of GameStop

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its stake in shares of GameStop by 99.7% during the third quarter. IFP Advisors Inc now owns 2,708 shares of the company's stock valued at $45,000 after acquiring an additional 1,352 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of GameStop by 175.6% during the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company's stock valued at $47,000 after acquiring an additional 1,819 shares in the last quarter. Headlands Technologies LLC bought a new position in GameStop in the fourth quarter worth approximately $55,000. First United Bank & Trust bought a new position in GameStop in the fourth quarter worth approximately $70,000. Finally, Exchange Traded Concepts LLC raised its stake in GameStop by 278.9% in the third quarter. Exchange Traded Concepts LLC now owns 6,567 shares of the company's stock worth $108,000 after buying an additional 4,834 shares in the last quarter. Institutional investors own 29.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GME shares. Wedbush dropped their price target on GameStop from $6.00 to $5.60 and set an "underperform" rating for the company in a research report on Wednesday, March 27th. StockNews.com upgraded GameStop from a "sell" rating to a "hold" rating in a research report on Wednesday, March 27th.

GameStop Trading Up 7.5 %

Shares of NYSE:GME traded up $0.77 during trading hours on Wednesday, hitting $10.93. 4,821,706 shares of the company's stock traded hands, compared to its average volume of 3,786,423. GameStop has a 1 year low of $9.95 and a 1 year high of $27.65. The business has a fifty day moving average price of $12.95 and a 200-day moving average price of $14.11. The firm has a market capitalization of $3.34 billion, a P/E ratio of 546.25 and a beta of -0.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). GameStop had a net margin of 0.13% and a return on equity of 1.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm posted $0.16 EPS. The business's revenue was down 19.4% on a year-over-year basis. Equities analysts expect that GameStop will post 0.01 earnings per share for the current year.

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.