GameStop (NYSE:GME) Shares Up 3.9% – What’s Next?

GameStop Corp. (NYSE:GME) shares shot up 3.9% on Tuesday . The stock traded as high as $31.10 and last traded at $30.84. 5,767,052 shares were traded during trading, a decline of 70% from the average session volume of 19,189,809 shares. The stock had previously closed at $29.67.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GME. Wedbush decreased their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com upgraded shares of GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Price Performance

The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 237.63 and a beta of -0.13. The business’s fifty day simple moving average is $23.40 and its 200 day simple moving average is $24.01.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. Equities research analysts expect that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now directly owns 54,927 shares of the company’s stock, valued at approximately $1,206,196.92. This trade represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 1,972 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $43,305.12. Following the completion of the transaction, the insider now directly owns 37,280 shares in the company, valued at $818,668.80. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,639 shares of company stock worth $481,000. 12.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. AlphaMark Advisors LLC lifted its position in shares of GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after purchasing an additional 396 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares in the last quarter. CWM LLC lifted its position in shares of GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after purchasing an additional 529 shares in the last quarter. UMB Bank n.a. lifted its position in shares of GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares in the last quarter. Finally, United Services Automobile Association lifted its position in shares of GameStop by 4.6% during the third quarter. United Services Automobile Association now owns 22,500 shares of the company’s stock valued at $516,000 after purchasing an additional 999 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

About GameStop

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.