GameStop (NYSE:GME) Sees Unusually-High Trading Volume – What’s Next?

GameStop Corp. (NYSE:GME) saw an uptick in trading volume on Tuesday . 22,432,904 shares changed hands during mid-day trading, an increase of 139% from the previous session’s volume of 9,378,605 shares.The stock last traded at $35.02 and had previously closed at $33.03.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen upgraded GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price objective on shares of GameStop in a research note on Wednesday, March 26th.

GameStop Trading Up 4.1%

The firm has a market cap of $15.37 billion, a PE ratio of 191.46 and a beta of -0.76. The firm has a fifty day simple moving average of $26.41 and a two-hundred day simple moving average of $27.21.

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

Insider Transactions at GameStop

In other GameStop news, Director Alain Attal acquired 10,000 shares of the business’s stock in a transaction on Thursday, April 10th. The shares were acquired at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the acquisition, the director now owns 572,464 shares in the company, valued at $14,740,948. This trade represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $105,598.11. Following the transaction, the general counsel now directly owns 37,663 shares of the company’s stock, valued at $848,547.39. This represents a 11.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 515,000 shares of company stock valued at $11,140,200. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Institutional investors and hedge funds have recently modified their holdings of the stock. Bayforest Capital Ltd increased its stake in GameStop by 654.6% during the 1st quarter. Bayforest Capital Ltd now owns 15,212 shares of the company’s stock valued at $340,000 after purchasing an additional 13,196 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of GameStop by 9.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock valued at $25,255,000 after acquiring an additional 94,892 shares in the last quarter. United Services Automobile Association lifted its position in GameStop by 4.1% in the 1st quarter. United Services Automobile Association now owns 26,202 shares of the company’s stock valued at $569,000 after acquiring an additional 1,044 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of GameStop by 33.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock worth $5,851,000 after purchasing an additional 65,325 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of GameStop by 312.2% during the first quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock valued at $623,000 after purchasing an additional 22,297 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

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.