GameStop (NYSE:GME) Trading 3.9% Higher – Here’s What Happened

Shares of GameStop Corp. (NYSE:GME) rose 3.9% on Tuesday . The company traded as high as $31.10 and last traded at $30.84. Approximately 5,767,052 shares were traded during trading, a decline of 70% from the average daily volume of 19,189,809 shares. The stock had previously closed at $29.67.

Wall Street Analyst Weigh In

GME has been the subject of a number of recent analyst reports. Wedbush reduced their target price on GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, September 11th. StockNews.com raised shares of GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Stock Performance

The firm’s 50-day moving average is $22.97 and its 200 day moving average is $23.87. The firm has a market capitalization of $13.29 billion, a PE ratio of 228.33 and a beta of -0.13.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $895.67 million. During the same period in the prior year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was down 31.4% on a year-over-year basis. As a group, equities analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 2,624 shares of the business’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 completion of the transaction, the insider now owns 32,280 shares of the company’s stock, valued at $677,880. The trade was a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total transaction of $229,020.00. Following the sale, the general counsel now owns 43,927 shares in the company, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock valued at $481,000 over the last three months. 12.28% of the stock is currently owned by insiders.

Institutional Trading of GameStop

A number of hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in shares of GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares during the last quarter. AlphaMark Advisors LLC increased its stake in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after acquiring an additional 396 shares during the last quarter. Centerpoint Advisors LLC purchased a new position in shares of GameStop in the 2nd quarter worth about $47,000. GAMMA Investing LLC lifted its stake in shares of GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after purchasing an additional 3,025 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

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.