GameStop Corp. Target of Unusually Large Options Trading (GME)
GameStop Corp. (NYSE:GME) saw unusually large options trading activity on Tuesday. Traders bought 22,790 put options on the stock. This is an increase of approximately 438% compared to the average volume of 4,233 put options.
GameStop Corp. (NYSE:GME) traded down 5.78% during mid-day trading on Tuesday, hitting $22.66. 5,634,704 shares of the stock were exchanged. The company has a 50 day moving average of $23.24 and a 200 day moving average of $24.13. GameStop Corp. has a 12-month low of $20.10 and a 12-month high of $32.67. The firm has a market cap of $2.29 billion, a P/E ratio of 6.66 and a beta of 1.18.
GameStop Corp. (NYSE:GME) last issued its quarterly earnings results on Thursday, March 23rd. The company reported $2.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.09. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.06 billion. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.74%. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.40 earnings per share. On average, equities analysts anticipate that GameStop Corp. will post $3.29 earnings per share for the current fiscal year.
GME has been the topic of several recent analyst reports. Wedbush set a $25.00 price target on shares of GameStop Corp. and gave the stock a “buy” rating in a research note on Saturday, March 25th. Mizuho reaffirmed a “buy” rating and issued a $27.00 price target on shares of GameStop Corp. in a research note on Tuesday, April 18th. Vetr downgraded shares of GameStop Corp. from a “strong-buy” rating to a “buy” rating and set a $26.42 price target on the stock. in a research note on Wednesday, April 26th. Telsey Advisory Group downgraded shares of GameStop Corp. from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $28.00 to $27.00 in a research note on Monday, March 13th. Finally, Bank of America Corp reaffirmed a “buy” rating on shares of GameStop Corp. in a research note on Saturday, March 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.86.
Several hedge funds have recently added to or reduced their stakes in GME. Westpac Banking Corp purchased a new stake in GameStop Corp. during the first quarter worth $134,000. Ladenburg Thalmann Financial Services Inc. raised its stake in GameStop Corp. by 151.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,572 shares of the company’s stock worth $116,000 after buying an additional 2,754 shares during the last quarter. James Investment Research Inc. raised its stake in GameStop Corp. by 21.0% in the first quarter. James Investment Research Inc. now owns 4,630 shares of the company’s stock worth $104,000 after buying an additional 805 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in GameStop Corp. during the fourth quarter worth $126,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in GameStop Corp. by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,616 shares of the company’s stock worth $149,000 after buying an additional 3,700 shares during 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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