GameStop (NYSE:GME) Sees Unusually-High Trading Volume

GameStop Corp. (NYSE:GME) shares saw unusually-strong trading volume on Monday . Approximately 11,146,406 shares traded hands during mid-day 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

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

GameStop Stock Down 1.1 %

The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $12.73 and a 200-day simple moving average of $13.97. The stock has a market cap of $4.98 billion, a P/E ratio of 760.88 and a beta of -0.25.

GameStop (NYSE:GME) last announced 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). GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, equities research analysts forecast that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 7,779 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Lawrence Cheng purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was acquired at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 7,779 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the sale, the insider now owns 13,606 shares in the company, valued at $138,781.20. The disclosure for this sale can be found here. Insiders have sold 27,207 shares of company stock worth $285,048 in the last 90 days. 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 company. SG Americas Securities LLC boosted its holdings in shares of GameStop by 399.9% in the 3rd quarter. SG Americas Securities LLC now owns 23,787 shares of the company’s stock valued at $392,000 after purchasing an additional 19,029 shares in the last quarter. Xponance Inc. grew its position in GameStop by 2.7% in the third quarter. Xponance Inc. now owns 32,094 shares of the company’s stock valued at $528,000 after acquiring an additional 854 shares during the last quarter. Bank of New York Mellon Corp raised its stake in GameStop by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 2,137,069 shares of the company’s stock worth $35,176,000 after acquiring an additional 16,875 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of GameStop by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 290,102 shares of the company’s stock valued at $4,775,000 after purchasing an additional 3,317 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in GameStop by 25.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,008 shares of the company’s stock worth $741,000 after purchasing an additional 9,195 shares in 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.