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

GameStop Corp. (NYSE:GME)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $31.14, but opened at $32.62. GameStop shares last traded at $32.07, with a volume of 9,153,107 shares changing hands.

Analyst Upgrades and Downgrades

GME has been the topic of several research analyst reports. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush reiterated an “underperform” rating and issued a $10.00 target price on shares of GameStop in a research report on Friday, December 6th.

GameStop Trading Down 2.4 %

The stock’s 50-day moving average price is $26.87 and its 200-day moving average price is $24.39. The company has a market capitalization of $14.39 billion, a P/E ratio of 178.90 and a beta of -0.11.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm had revenue of $860.30 million for the quarter, compared to analyst estimates of $887.68 million. The company’s revenue for the quarter was down 20.2% on a year-over-year basis. Sell-side analysts expect that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $20.82, for a total value of $229,020.00. Following the sale, the general counsel now owns 43,927 shares in the company, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel William Moore sold 1,972 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the transaction, the insider now owns 37,280 shares of the company’s stock, valued at approximately $818,668.80. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,639 shares of company stock valued at $481,000. Insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its stake in shares of GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock worth $26,000 after purchasing an additional 959 shares in the last quarter. CWM LLC increased its stake in GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after buying an additional 529 shares during the period. Quest Partners LLC raised its position in shares of GameStop by 7,156.5% during the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock worth $152,000 after buying an additional 6,083 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of GameStop in the 3rd quarter worth approximately $171,000. Finally, Sterling Investment Advisors Ltd. bought a new position in shares of GameStop in the second quarter valued at approximately $204,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.