GameStop (NYSE:GME) Sees Strong Trading Volume

GameStop Corp. (NYSE:GME) 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GME shares. Wedbush cut their price target on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday, March 27th. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

GameStop Stock Performance

The firm has a market capitalization of $4.87 billion, a PE ratio of 815.41 and a beta of -0.25. The business has a 50-day simple moving average of $12.82 and a 200-day simple moving average of $14.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44.

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

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 13,471 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the completion of the sale, the general counsel now owns 50,837 shares in the company, valued at $515,995.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GameStop news, Director Lawrence Cheng purchased 10,000 shares of GameStop stock in a transaction dated Monday, April 8th. The stock was acquired at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the acquisition, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of GameStop stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.15, for a total transaction of $136,730.65. Following the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The disclosure for this sale can be found here. Insiders sold a total of 27,421 shares of company stock valued at $288,153 in the last three months. Company insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Several hedge funds and other institutional investors have recently bought and sold shares of GME. Russell Investments Group Ltd. lifted its stake 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 last quarter. Swiss National Bank lifted its position in shares of GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after buying an additional 1,400 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of GameStop by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 235,081 shares of the company’s stock valued at $2,943,000 after buying an additional 3,459 shares in the last quarter. BNP Paribas Financial Markets lifted its position in GameStop by 7.0% during the first quarter. BNP Paribas Financial Markets now owns 157,242 shares of the company’s stock valued at $1,969,000 after acquiring an additional 10,289 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of GameStop by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock valued at $18,519,000 after purchasing an additional 147,655 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

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.