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

GameStop Corp. (NYSE:GME - Get Free Report) was the recipient of unusually large options trading on Friday. Traders purchased 342,087 call options on the stock. This is an increase of approximately 31% compared to the typical daily volume of 260,948 call options.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 4,687 shares of the firm'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 sale, the general counsel now owns 37,663 shares of the company's stock, valued at approximately $848,547.39. This trade represents a 11.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now owns 29,777 shares in the company, valued at approximately $670,875.81. This represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 515,000 shares of company stock valued at $11,140,200. 12.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GME. CIBC Asset Management Inc boosted its stake in shares of GameStop by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock valued at $294,000 after buying an additional 502 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock valued at $67,000 after acquiring an additional 520 shares during the period. Securian Asset Management Inc. grew its holdings in shares of GameStop by 1.8% during the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock worth $963,000 after purchasing an additional 557 shares in the last quarter. Fifth Third Bancorp raised its stake in GameStop by 10.3% in the first quarter. Fifth Third Bancorp now owns 6,227 shares of the company's stock valued at $139,000 after purchasing an additional 579 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in GameStop by 2.3% in the fourth quarter. Prudential Financial Inc. now owns 28,134 shares of the company's stock valued at $882,000 after purchasing an additional 640 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Trading Up 5.0%

Shares of NYSE GME traded up $1.10 during mid-day trading on Monday, hitting $23.24. The company had a trading volume of 31,238,295 shares, compared to its average volume of 11,885,171. The firm has a 50-day simple moving average of $27.96 and a two-hundred day simple moving average of $27.30. The company has a market capitalization of $10.40 billion, a PE ratio of 129.14 and a beta of -0.69. GameStop has a one year low of $18.73 and a one year high of $35.81.

GameStop (NYSE:GME - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.13. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $732.40 million during the quarter, compared to analysts' expectations of $754.23 million. During the same period last year, the business earned ($0.12) earnings per share. The firm's revenue was down 16.9% on a year-over-year basis. Sell-side analysts expect that GameStop will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GME. Wall Street Zen upgraded GameStop from a "sell" rating to a "hold" rating in a report on Thursday, March 27th. Wedbush restated an "underperform" rating and set a $13.50 target price on shares of GameStop in a report on Wednesday, June 11th.

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.