Traders Purchase High Volume of GameStop Call Options (NYSE:GME)

GameStop Corp. (NYSE:GME) was the target of some unusual options trading activity on Wednesday. Stock traders bought 358,742 call options on the company. This represents an increase of approximately 69% compared to the typical volume of 212,466 call options.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameStop

Large investors have recently modified their holdings of the business. CIBC Asset Management Inc increased its position in shares of GameStop by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock valued at $294,000 after acquiring an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. grew its stake in GameStop by 1.9% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock valued at $853,000 after purchasing an additional 518 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of GameStop by 32.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after purchasing an additional 520 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of GameStop by 2.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock worth $575,000 after purchasing an additional 523 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its holdings in shares of GameStop by 1.8% in the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock valued at $963,000 after buying an additional 557 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Stock Down 22.8 %

NYSE:GME opened at $21.89 on Friday. The company has a market cap of $9.78 billion, a P/E ratio of 121.64 and a beta of -0.29. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83. The business has a 50 day moving average price of $25.48 and a two-hundred day moving average price of $25.66.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm’s revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, analysts anticipate that GameStop will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Thursday. Wedbush restated an “underperform” rating and issued a $10.00 price target on shares of GameStop in a report on Monday.

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.