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

GameStop Corp. (NYSE:GME - Get Free Report) saw unusually large options trading activity on Friday. Investors bought 827,917 call options on the stock. This is an increase of 272% compared to the average volume of 222,847 call options.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush set a $11.50 target price on GameStop in a report on Wednesday, March 26th. Wall Street Zen raised GameStop from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,687 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total transaction of $105,598.11. Following the completion of the transaction, the general counsel now owns 37,663 shares of the company's stock, valued at approximately $848,547.39. The trade was a 11.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Cheng bought 5,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $21.54 per share, with a total value of $107,700.00. Following the acquisition, the director now owns 83,000 shares in the company, valued at approximately $1,787,820. This represents a 6.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GameStop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of GameStop by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company's stock worth $113,146,000 after acquiring an additional 107,354 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in shares of GameStop in the 4th quarter worth approximately $878,000. Bank of New York Mellon Corp raised its position in shares of GameStop by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company's stock worth $80,401,000 after acquiring an additional 60,673 shares in the last quarter. Swiss National Bank raised its position in shares of GameStop by 5.5% in the 4th quarter. Swiss National Bank now owns 834,228 shares of the company's stock worth $26,145,000 after acquiring an additional 43,700 shares in the last quarter. Finally, Slate Path Capital LP bought a new position in shares of GameStop in the 4th quarter worth approximately $60,361,000. 29.21% of the stock is currently owned by institutional investors.

GameStop Price Performance

Shares of GME stock traded down $3.18 during trading hours on Wednesday, reaching $31.84. The company had a trading volume of 38,986,508 shares, compared to its average volume of 16,957,321. GameStop has a 12 month low of $18.73 and a 12 month high of $48.00. The business has a fifty day simple moving average of $26.64 and a 200-day simple moving average of $27.26. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 177.43 and a beta of -0.76.

GameStop (NYSE:GME - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The business's revenue for the quarter was down 28.5% compared to the same quarter last year. On average, equities research analysts expect that GameStop will post 0.08 earnings per share for the current 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.