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

GameStop Corp. (NYSE:GME)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $31.14, but opened at $32.62. GameStop shares last traded at $32.07, with a volume of 9,153,107 shares trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on GME shares. Wedbush reaffirmed an “underperform” rating and set a $10.00 target price on shares of GameStop in a research note on Friday, December 6th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Saturday, October 19th.

GameStop Trading Down 2.4 %

The company has a market cap of $14.39 billion, a price-to-earnings ratio of 178.90 and a beta of -0.11. The business has a 50-day moving average price of $26.87 and a 200 day moving average price of $24.39.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.09. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s quarterly revenue was down 20.2% on a year-over-year basis. On average, analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,667 shares of GameStop stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares in the company, valued at approximately $1,206,196.92. The trade was a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the transaction, the insider now owns 37,280 shares in the company, valued at $818,668.80. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock valued at $481,000 over the last ninety days. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

A number of hedge funds have recently added to or reduced their stakes in GME. UMB Bank n.a. increased its position in GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after buying an additional 959 shares during the last quarter. CWM LLC lifted its position in shares of GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after purchasing an additional 529 shares during the last quarter. Quest Partners LLC boosted its stake in GameStop by 7,156.5% during the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock valued at $152,000 after purchasing an additional 6,083 shares during the period. Centaurus Financial Inc. acquired a new stake in GameStop in the 3rd quarter valued at approximately $171,000. Finally, Sterling Investment Advisors Ltd. bought a new position in GameStop in the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds 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.