GameStop (NYSE:GME) Sees Strong Trading Volume

GameStop Corp. (NYSE:GME) shares saw an uptick in trading volume on Monday . 11,146,406 shares were traded during trading, an increase of 160% from the previous session’s volume of 4,280,263 shares.The stock last traded at $15.89 and had previously closed at $16.47.

Analysts Set New Price Targets

A number of research firms recently commented on GME. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Wedbush reduced their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a report on Wednesday, March 27th.

GameStop Stock Performance

The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 760.88 and a beta of -0.25. The stock’s 50 day moving average is $12.73 and its two-hundred day moving average is $13.97.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business’s revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. Analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at GameStop

In other GameStop news, insider Daniel William Moore sold 7,779 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the transaction, the insider now owns 13,606 shares in the company, valued at approximately $138,781.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction on 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 of the company’s stock, valued at approximately $746,615.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 7,779 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the sale, the insider now directly owns 13,606 shares in the company, valued at approximately $138,781.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,207 shares of company stock worth $285,048. Company insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position in GameStop by 175.6% during the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock worth $47,000 after acquiring an additional 1,819 shares during the last quarter. Headlands Technologies LLC acquired a new stake in GameStop during the fourth quarter worth about $55,000. First United Bank & Trust acquired a new position in GameStop during the fourth quarter valued at approximately $70,000. Merit Financial Group LLC purchased a new stake in GameStop during the 4th quarter worth $176,000. Finally, Handelsinvest Investeringsforvaltning purchased a new position in GameStop in the fourth quarter valued at about $184,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

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.