GameStop (NYSE:GME) Shares Up 4.9%

GameStop Corp. (NYSE:GME) rose 4.9% during mid-day trading on Monday . The stock traded as high as $23.64 and last traded at $23.58. Approximately 7,318,029 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 21,531,188 shares. The stock had previously closed at $22.48.

Analysts Set New Price Targets

A number of research firms have commented on GME. Wedbush lowered their price target on 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 raised GameStop to a “sell” rating in a research note on Wednesday, September 25th.

GameStop Stock Performance

The company’s 50-day moving average price is $22.16 and its 200 day moving average price is $20.75. The stock has a market capitalization of $8.05 billion, a PE ratio of 281.00 and a beta of -0.17.

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

Insiders Place Their Bets

In other GameStop news, Director Lawrence Cheng bought 4,140 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the acquisition, the director now owns 69,228 shares in the company, valued at approximately $1,720,315.80. The purchase was disclosed in a filing with the SEC, which is available at this link. 12.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC increased its holdings 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 in the last quarter. Centerpoint Advisors LLC bought a new stake in GameStop during the 2nd quarter valued at about $47,000. GAMMA Investing LLC raised its holdings in 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 buying an additional 511 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after buying an additional 3,025 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of GameStop by 115.6% during the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after buying an additional 1,426 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

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.