GameStop Corp. Target of Unusually High Options Trading (GME)
GameStop Corp. (NYSE:GME) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 7,101 call options on the company. This represents an increase of 1,496% compared to the typical volume of 445 call options.
A number of analysts have weighed in on the stock. Vetr lowered shares of GameStop Corp. from a “sell” rating to a “strong sell” rating and set a $20.04 price objective for the company. in a research note on Monday, May 15th. Bank of America Corp set a $27.00 price objective on shares of GameStop Corp. and gave the company a “hold” rating in a research note on Saturday, May 13th. Telsey Advisory Group upgraded shares of GameStop Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 10th. Mizuho restated a “buy” rating and set a $27.00 price objective on shares of GameStop Corp. in a research note on Tuesday, April 18th. Finally, Hilliard Lyons downgraded shares of GameStop Corp. from a “buy” rating to a “neutral” rating in a report on Monday, March 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. GameStop Corp. currently has an average rating of “Hold” and an average price target of $25.86.
Shares of GameStop Corp. (NYSE:GME) traded down 3.74% during midday trading on Tuesday, reaching $23.15. 2,741,026 shares of the company traded hands. The firm has a market capitalization of $2.34 billion, a PE ratio of 6.81 and a beta of 1.18. The stock has a 50 day moving average price of $23.24 and a 200 day moving average price of $24.13. GameStop Corp. has a 1-year low of $20.10 and a 1-year high of $32.67.
GameStop Corp. (NYSE:GME) last posted its quarterly earnings data on Thursday, March 23rd. The company reported $2.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.09. GameStop Corp. had a return on equity of 18.74% and a net margin of 4.32%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the company earned $2.40 EPS. The firm’s revenue was down 13.6% compared to the same quarter last year. Analysts expect that GameStop Corp. will post $3.29 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Achmea Investment Management B.V. purchased a new position in GameStop Corp. during the first quarter valued at approximately $2,325,000. Point72 Asset Management L.P. purchased a new position in GameStop Corp. during the first quarter valued at approximately $7,893,000. Ironwood Investment Management LLC increased its position in GameStop Corp. by 2.3% in the first quarter. Ironwood Investment Management LLC now owns 30,520 shares of the company’s stock valued at $688,000 after buying an additional 675 shares in the last quarter. HighTower Advisors LLC purchased a new position in GameStop Corp. during the first quarter valued at approximately $2,660,000. Finally, Credit Suisse AG increased its position in GameStop Corp. by 3.4% in the first quarter. Credit Suisse AG now owns 457,809 shares of the company’s stock valued at $10,324,000 after buying an additional 15,157 shares in the last quarter.
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GameStop Corp. Company Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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