GameStop (NYSE:GME) Shares Up 11.4% – What’s Next?

Shares of GameStop Corp. (NYSE:GME) were up 11.4% during mid-day trading on Monday . The stock traded as high as $28.05 and last traded at $27.71. Approximately 21,243,464 shares traded hands during trading, an increase of 9% from the average daily volume of 19,461,895 shares. The stock had previously closed at $24.88.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GME shares. Wedbush decreased their price objective on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a report on Saturday, October 19th.

GameStop Stock Down 1.4 %

The firm has a fifty day moving average price of $21.96 and a 200-day moving average price of $23.03. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 207.63 and a beta of -0.13.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The firm had revenue of $798.30 million for the quarter, compared to analysts’ expectations of $895.67 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 31.4% compared to the same quarter last year. Equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,000 shares of GameStop stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total value of $229,020.00. Following the transaction, the general counsel now owns 43,927 shares in the company, valued at approximately $914,560.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GameStop news, insider Daniel William Moore sold 2,376 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $21.50, for a total transaction of $51,084.00. Following the sale, the insider now owns 34,904 shares in the company, valued at $750,436. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total value of $229,020.00. Following the transaction, the general counsel now directly owns 43,927 shares of the company’s stock, valued at $914,560.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,639 shares of company stock worth $481,000. 12.28% of the stock is owned by insiders.

Hedge Funds Weigh In On GameStop

Several institutional investors have recently made changes to their positions in GME. UMB Bank n.a. grew its holdings in GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after buying an additional 959 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of GameStop by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares in the last quarter. Centerpoint Advisors LLC purchased a new stake in shares of GameStop in the second quarter valued at $47,000. GAMMA Investing LLC raised its holdings in shares of GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of GameStop by 147.2% during the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after acquiring an additional 3,025 shares in the last quarter. 29.21% of the stock is owned by 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.