GameStop (NYSE:GME) Trading 4.9% Higher

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

Analysts Set New Price Targets

A number of research analysts have issued reports on GME shares. Wedbush decreased their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 11th. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Wednesday, September 25th.

GameStop Stock Up 2.0 %

The firm has a 50 day moving average of $22.16 and a 200 day moving average of $20.75. The firm has a market cap of $8.05 billion, a PE ratio of 281.00 and a beta of -0.17.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The company 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 earned ($0.03) earnings per share. GameStop’s revenue was down 31.4% compared to the same quarter last year. On average, research analysts anticipate that GameStop Corp. will post 0.01 EPS for the current year.

Insider Transactions at GameStop

In other GameStop news, Director Lawrence Cheng acquired 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was bought at an average price of $24.85 per share, with a total value of $102,879.00. Following the completion of the purchase, the director now owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC lifted its holdings in shares of GameStop by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after acquiring an additional 396 shares during the last quarter. Centerpoint Advisors LLC bought a new stake in GameStop during the second quarter worth about $47,000. GAMMA Investing LLC boosted its holdings in shares of GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of 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 last quarter. Finally, CWM LLC increased its position in shares of GameStop by 115.6% during 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 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.