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

GameStop Corp. (NYSE:GME) saw some unusual options trading on Friday. Stock traders bought 424,192 call options on the company. This is an increase of approximately 115% compared to the typical volume of 197,111 call options.

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 2,624 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the transaction, the insider now directly owns 32,280 shares of the company’s stock, valued at approximately $677,880. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Daniel William Moore sold 2,624 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the transaction, the insider now owns 32,280 shares in the company, valued at approximately $677,880. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares in the company, valued at approximately $1,206,196.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On GameStop

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of GameStop during the second quarter worth approximately $9,577,000. Renaissance Technologies LLC raised its holdings in GameStop by 34.0% in the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock worth $33,261,000 after purchasing an additional 342,178 shares during the period. Swiss National Bank boosted its position in shares of GameStop by 46.0% during the third quarter. Swiss National Bank now owns 790,528 shares of the company’s stock worth $18,127,000 after purchasing an additional 249,100 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of GameStop by 14.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,689,052 shares of the company’s stock valued at $41,702,000 after buying an additional 209,861 shares during the period. Finally, Tidal Investments LLC increased its position in shares of GameStop by 659.6% in the 1st quarter. Tidal Investments LLC now owns 139,723 shares of the company’s stock valued at $1,749,000 after buying an additional 121,328 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GME shares. Wedbush decreased their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Stock Performance

Shares of NYSE:GME traded up $1.43 during midday trading on Friday, hitting $24.88. The company’s stock had a trading volume of 15,761,505 shares, compared to its average volume of 19,464,605. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 186.32 and a beta of -0.13. The stock’s 50 day simple moving average is $21.78 and its 200 day simple moving average is $22.54. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 31.4% on a year-over-year basis. As a group, analysts anticipate that GameStop will post 0.01 EPS 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.