Investors Purchase Large Volume of Put Options on GameStop Corp. (GME)
Shares of GameStop Corp. (NYSE:GME) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 12,852 put options on the stock, American Banking News reports. This represents an increase of 356% compared to the average volume of 2,818 put options.
In other GameStop Corp. news, President Tony Bartel unloaded 165,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $49.89, for a total transaction of $8,231,850.00. Following the sale, the president now directly owns 413,925 shares of the company’s stock, valued at approximately $20,650,718. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on GME shares. 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 analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.08.
Shares of GameStop Corp. (NYSE:GME) opened at 51.21 on Wednesday. GameStop Corp. has a 52 week low of $21.23 and a 52 week high of $56.08. The stock has a 50-day moving average of $50.14 and a 200-day moving average of $40.65. The company’s market cap is $5.986 billion.
GameStop Corp. (NYSE:GME) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. 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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