GameStop (NYSE:GME) Shares Gap Up to $27.00

GameStop Corp. (NYSE:GME) gapped up prior to trading on Tuesday . The stock had previously closed at $27.00, but opened at $27.75. GameStop shares last traded at $28.14, with a volume of 5,877,132 shares changing hands.

Wall Street Analyst Weigh In

GME has been the subject of a number of research reports. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Wednesday, July 10th. Wedbush dropped their price objective on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, June 12th.

GameStop Trading Up 2.1 %

The firm has a market cap of $9.68 billion, a P/E ratio of 346.67 and a beta of -0.10. The business’s fifty day moving average is $25.38 and its 200-day moving average is $17.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22.

GameStop (NYSE:GME) last released its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $881.80 million for the quarter, compared to analyst estimates of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The business’s revenue for the quarter was down 28.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. Analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insider Buying and Selling at GameStop

In other news, Director Lawrence Cheng bought 4,140 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was acquired at an average price of $24.85 per share, with a total value of $102,879.00. Following the transaction, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the sale, the insider now owns 13,606 shares of the company’s stock, valued at approximately $138,781.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence Cheng acquired 4,140 shares of GameStop stock in a transaction dated 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 transaction, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 24,647 shares of company stock valued at $300,183. 12.28% of the stock is currently owned by company insiders.

Institutional Trading of GameStop

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of GameStop by 38.9% during the 2nd quarter. SG Americas Securities LLC now owns 12,907 shares of the company’s stock worth $319,000 after buying an additional 3,614 shares during the period. Simplicity Wealth LLC acquired a new stake in GameStop in the 2nd quarter valued at $553,000. CWM LLC grew its position in GameStop by 115.6% in the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares during the period. GAMMA Investing LLC grew its position in GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares during the period. Finally, Cetera Advisors LLC acquired a new stake in GameStop in the 1st quarter valued at $806,000. Institutional investors and hedge funds 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.