GameStop Corp. Sees Unusually High Options Volume (GME)
GameStop Corp. (NYSE:GME) saw unusually large options trading on Monday. Traders bought 5,227 put options on the company, American Banking News reports. This is an increase of 127% compared to the typical daily volume of 2,307 put options.
In other GameStop Corp. news, President Tony Bartel sold 165,000 shares of the stock on the open market in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $49.89, for a total transaction of $8,231,850.00. Following the completion of the transaction, the president now directly owns 413,925 shares in the company, valued at approximately $20,650,718. The sale was disclosed in a legal filing with the SEC, which is available at this link.
GME has been the subject of a number of recent research reports. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of GameStop Corp. (NYSE:GME) in a research note to investors on Friday, August 30th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of GameStop Corp. (NYSE:GME) in a research note to investors on Tuesday, August 27th. They now have a $55.00 price target on the stock. Finally, analysts at Janney Montgomery Scott raised their price target on shares of GameStop Corp. (NYSE:GME) from $50.00 to $65.00 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $50.08.
Shares of GameStop Corp. (NYSE:GME) remained flat at $49.65 during during mid-day trading trading on Monday. 1,873,321 shares of the company’s stock traded hands. GameStop Corp. has a 52 week low of $21.05 and a 52 week high of $56.08. The stock has a 50-day moving average of $50.07 and a 200-day moving average of $40.07. The company’s market cap is $5.804 billion.
GameStop Corp. (NYSE:GME) last released its earnings data on Thursday, August 22nd. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.05. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company posted $0.16 earnings per share. GameStop Corp.’s revenue was down 10.7% compared to the same quarter last year. On average, analysts predict that GameStop Corp. will post $3.20 earnings per share for the current fiscal year.
GameStop Corp. (NYSE:GME) is a holding company.
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