GameStop Corp. (NYSE:GME – Get Free Report) was the target of unusually large options trading on Thursday. Stock investors bought 258,342 call options on the company. This represents an increase of 72% compared to the typical daily volume of 149,779 call options.
Insiders Place Their Bets
In other GameStop news, Director Alain Attal bought 17,500 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was purchased at an average cost of $22.97 per share, with a total value of $401,975.00. Following the transaction, the director directly owned 618,964 shares in the company, valued at $14,217,603.08. This trade represents a 2.91% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Moore sold 7,085 shares of GameStop stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total value of $158,562.30. Following the sale, the insider owned 115,125 shares in the company, valued at $2,576,497.50. The trade was a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 2,228,180 shares of company stock valued at $48,312,574 and have sold 18,125 shares valued at $406,587. Company insiders own 9.50% of the company’s stock.
Hedge Funds Weigh In On GameStop
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in GameStop by 376.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,650,303 shares of the company’s stock valued at $61,063,000 after acquiring an additional 2,093,755 shares during the period. Delta Global Management LP bought a new position in shares of GameStop in the first quarter worth $3,448,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of GameStop in the second quarter valued at $1,866,000. Quantinno Capital Management LP raised its stake in shares of GameStop by 377.8% during the 1st quarter. Quantinno Capital Management LP now owns 138,846 shares of the company’s stock valued at $3,199,000 after purchasing an additional 109,788 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of GameStop by 189.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,909,284 shares of the company’s stock valued at $90,046,000 after purchasing an additional 2,557,079 shares during the period. Institutional investors own 29.21% of the company’s stock.
GameStop Stock Performance
GameStop (NYSE:GME – Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $790.20 million for the quarter, compared to analysts’ expectations of $756.85 million. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GME. Wall Street Zen downgraded shares of GameStop from a “buy” rating to a “hold” rating in a report on Monday, September 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of GameStop in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on GME
GameStop Company Profile
GameStop Corp. is a multichannel retailer specializing in video games, gaming hardware, accessories and related entertainment products. Its offerings include new and pre-owned consoles and games, controllers, headsets, collectibles, apparel, toys and trading cards. The company sells through its retail stores, e-commerce websites and other digital channels.
Founded in 1984 as Babbage’s, the company expanded through acquisitions and adopted the GameStop name in 2000. It has historically operated stores in the United States, Canada, Australia and several European markets, although its international footprint has changed over time as the company has closed or sold certain operations.
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