GameStop (NYSE:GME) Trading 11.5% Higher

GameStop Corp. (NYSE:GME) shares rose 11.5% during trading on Thursday . The company traded as high as $12.26 and last traded at $12.17. Approximately 5,218,897 shares were traded during trading, an increase of 36% from the average daily volume of 3,830,133 shares. The stock had previously closed at $10.91.

Wall Street Analysts Forecast Growth

GME has been the topic of several recent analyst reports. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush dropped their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop Trading Up 29.1 %

The firm has a fifty day moving average price of $12.73 and a 200-day moving average price of $13.97. The company has a market capitalization of $5.04 billion, a P/E ratio of 825.41 and a beta of -0.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. On average, equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current year.

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other GameStop news, Director Lawrence Cheng purchased 10,000 shares of the stock in a transaction dated Monday, April 8th. The shares were bought at an average price of $11.22 per share, with a total value of $112,200.00. Following the completion of the transaction, the director now directly owns 65,088 shares in the company, valued at approximately $730,287.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the transaction, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The disclosure for this sale can be found here. Insiders sold 27,207 shares of company stock valued at $285,048 in the last three months. Company insiders own 12.64% of the company’s stock.

Institutional Investors Weigh In On GameStop

Several institutional investors have recently made changes to their positions in the stock. Xponance Inc. lifted its holdings in shares of GameStop by 2.7% in the third quarter. Xponance Inc. now owns 32,094 shares of the company’s stock worth $528,000 after buying an additional 854 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in GameStop by 3.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 25,543 shares of the company’s stock worth $420,000 after purchasing an additional 957 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in GameStop by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock worth $2,082,000 after purchasing an additional 1,160 shares in the last quarter. Federated Hermes Inc. boosted its holdings in GameStop by 3.8% in the 3rd quarter. Federated Hermes Inc. now owns 36,902 shares of the company’s stock valued at $607,000 after purchasing an additional 1,363 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of GameStop by 50.6% during the 4th quarter. Fifth Third Bancorp now owns 4,300 shares of the company’s stock valued at $75,000 after purchasing an additional 1,445 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

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.