GameStop (NYSE:GME) Trading 4.3% Higher – What’s Next?

GameStop Corp. (NYSE:GME) shares traded up 4.3% during mid-day trading on Wednesday . The stock traded as high as $24.19 and last traded at $23.65. 1,649,109 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 19,831,727 shares. The stock had previously closed at $22.68.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush reduced their price objective 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.

GameStop Stock Down 4.7 %

The stock’s 50-day simple moving average is $21.61 and its two-hundred day simple moving average is $22.10. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 170.71 and a beta of -0.19.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 firm earned ($0.03) earnings per share. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. On average, sell-side analysts forecast that GameStop Corp. will post 0.01 EPS for the current year.

Insider Transactions at GameStop

In other news, insider Daniel William Moore sold 2,624 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $21.00, for a total transaction of $55,104.00. Following the completion of the sale, the insider now owns 32,280 shares of the company’s stock, valued at $677,880. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Daniel William Moore sold 2,624 shares of the company’s 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 sale, the insider now owns 32,280 shares of the company’s stock, valued at approximately $677,880. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $20.82, for a total transaction of $229,020.00. Following the completion of the sale, the general counsel now directly owns 43,927 shares of the company’s stock, valued at $914,560.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock valued at $481,000 over the last 90 days. 12.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp raised its holdings in GameStop by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 235,081 shares of the company’s stock valued at $2,943,000 after acquiring an additional 3,459 shares in the last quarter. Algert Global LLC purchased a new position in shares of GameStop during the second quarter worth approximately $1,003,000. State of Michigan Retirement System grew its position in shares of GameStop by 2.5% during the first quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock worth $826,000 after acquiring an additional 1,600 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in GameStop in the 2nd quarter valued at $9,577,000. Finally, Louisiana State Employees Retirement System grew its position in GameStop by 41.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 107,500 shares of the company’s stock valued at $2,465,000 after buying an additional 31,300 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.