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

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GME. Wedbush cut their price objective on GameStop from $11.00 to $10.00 and set an “underperform” rating for the company 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 stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 207.63 and a beta of -0.13. The company’s 50-day simple moving average is $21.96 and its 200 day simple moving average is $23.03.

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

Insider Activity

In other news, insider Daniel William Moore sold 1,972 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the sale, the insider now directly owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This trade 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 hyperlink. In related news, insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $43,305.12. Following the sale, the insider now directly owns 37,280 shares of the company’s stock, valued at $818,668.80. This trade 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. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of GameStop stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $20.82, for a total value of $229,020.00. Following the sale, the general counsel now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of GameStop by 7.0% in 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. Swiss National Bank increased its holdings in shares of GameStop by 0.3% in the first quarter. Swiss National Bank now owns 542,828 shares of the company’s stock valued at $6,796,000 after purchasing an additional 1,400 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after purchasing an additional 3,025 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in GameStop by 2.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 304,884 shares of the company’s stock worth $3,817,000 after acquiring an additional 8,437 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in GameStop by 2.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock worth $2,438,000 after acquiring an additional 5,411 shares during the period. 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.