GameStop (NYSE:GME) Sees Unusually-High Trading Volume

GameStop Corp. (NYSE:GMEGet Free Report) shares saw strong trading volume on Wednesday . 6,273,733 shares changed hands during mid-day trading, a decline of 63% from the previous session’s volume of 17,121,041 shares.The stock last traded at $28.20 and had previously closed at $26.50.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush raised their target price on GameStop from $5.60 to $7.00 and gave the company an “underperform” rating in a research note on Friday, May 17th.

Check Out Our Latest Analysis on GameStop

GameStop Stock Performance

The firm has a market cap of $9.33 billion, a P/E ratio of 1,494.25 and a beta of -0.27. The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $16.80 and its two-hundred day moving average is $15.59.

GameStop (NYSE:GMEGet Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business posted $0.16 EPS. GameStop’s revenue was down 19.4% compared to the same quarter last year. As a group, equities analysts predict that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction that occurred on 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 approximately $746,615.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Lawrence Cheng bought 10,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were purchased at an average price of $11.22 per share, with a total value of $112,200.00. Following the transaction, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares in the company, valued at approximately $746,615.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,421 shares of company stock valued at $288,153. 12.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GameStop

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of GameStop in the 4th quarter worth approximately $55,000. First United Bank & Trust bought a new stake in shares of GameStop in the 4th quarter worth approximately $70,000. Fifth Third Bancorp grew its stake in GameStop by 50.6% in the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after buying an additional 1,445 shares in the last quarter. Russell Investments Group Ltd. grew its stake in GameStop by 147.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after buying an additional 3,025 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in GameStop in the 4th quarter valued at approximately $176,000. Institutional investors own 29.21% of the company’s stock.

About GameStop

(Get Free Report)

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.

Further Reading

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