GameStop (NYSE:GME) Sees Strong Trading Volume

Shares of GameStop Corp. (NYSE:GME) saw an uptick in trading volume on Monday . 11,146,406 shares changed 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

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

GameStop Stock Down 2.5 %

The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 815.41 and a beta of -0.25. The stock has a fifty day moving average of $12.82 and a two-hundred day 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 announced its 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). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 earnings per share. Sell-side analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 7,779 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the transaction, the insider now directly owns 13,606 shares of the company’s stock, valued at $138,781.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the sale, the insider now directly 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 this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now owns 64,308 shares of the company’s stock, valued at $746,615.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,421 shares of company stock worth $288,153. Company insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake 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 worth $392,000 after acquiring an additional 19,029 shares in the last quarter. Xponance Inc. increased its holdings in GameStop by 2.7% in the 3rd quarter. Xponance Inc. now owns 32,094 shares of the company’s stock worth $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% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,137,069 shares of the company’s stock valued at $35,176,000 after acquiring an additional 16,875 shares during the period. New York State Teachers Retirement System lifted its holdings in GameStop by 1.2% during the third 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in GameStop by 25.7% during the third 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 during the period. Institutional investors 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.