GameStop (NYSE:GME) Stock Price Up 7.7%

GameStop Corp. (NYSE:GME)’s stock price traded up 7.7% during mid-day trading on Friday . The stock traded as high as $21.39 and last traded at $21.01. 12,613,343 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 21,652,463 shares. The stock had previously closed at $19.51.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GME shares. Wedbush decreased their target price on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th. StockNews.com raised shares of GameStop to a “sell” rating in a report on Wednesday, September 11th.

GameStop Stock Up 7.8 %

The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 261.38 and a beta of -0.17. The company’s 50 day moving average is $22.69 and its 200 day moving average is $20.36.

GameStop (NYSE:GME) last issued 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 company had revenue of $798.30 million for the quarter, compared to analysts’ expectations of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. GameStop’s revenue was down 31.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share. On average, analysts expect that GameStop Corp. will post 0.08 EPS for the current year.

Insider Activity

In related news, Director Lawrence Cheng purchased 4,140 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average cost of $24.85 per share, with a total value of $102,879.00. Following the acquisition, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Large investors have recently bought and sold shares of the company. AlphaMark Advisors LLC raised its stake 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 acquiring an additional 396 shares during the last quarter. Centerpoint Advisors LLC bought a new position in shares of GameStop during the second quarter worth about $47,000. GAMMA Investing LLC lifted its stake in shares of GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after acquiring an additional 511 shares during the period. Russell Investments Group Ltd. increased its position in GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after purchasing an additional 3,025 shares during the period. Finally, CWM LLC raised its holdings in GameStop by 115.6% during the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after purchasing an additional 1,426 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Company Profile

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.