GameStop (NYSE:GME) Shares Up 4.4% – What’s Next?

Shares of GameStop Corp. (NYSE:GME) rose 4.4% during trading on Thursday. The company traded as high as $25.73 and last traded at $25.65. 4,635,930 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 7,368,380 shares. The stock had previously closed at $24.58.

Analyst Ratings Changes

GME has been the subject of several research analyst reports. Wall Street Zen downgraded shares of GameStop from a “buy” rating to a “hold” rating in a research note on Monday, September 7th. Weiss Ratings restated a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

GameStop Trading Up 4.1%

The stock’s fifty day simple moving average is $20.67 and its 200-day simple moving average is $21.93. The firm has a market cap of $12.91 billion, a PE ratio of 16.84 and a beta of 1.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.72 and a quick ratio of 8.07.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 8th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. GameStop had a return on equity of 13.57% and a net margin of 25.16%.The firm had revenue of $790.20 million for the quarter, compared to the consensus estimate of $756.85 million. During the same period in the prior year, the firm earned $0.31 EPS. The firm’s revenue was down 18.7% on a year-over-year basis.

Insider Activity

In other news, Director Nat Turner bought 10,462 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were purchased at an average price of $24.33 per share, for a total transaction of $254,540.46. Following the completion of the transaction, the director directly owned 10,462 shares in the company, valued at approximately $254,540.46. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Cohen acquired 700,000 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were acquired at an average price of $24.41 per share, with a total value of $17,087,000.00. Following the completion of the purchase, the chief executive officer owned 41,648,522 shares in the company, valued at approximately $1,016,640,422.02. This trade represents a 1.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 3,388,642 shares of company stock valued at $76,220,115 and have sold 18,475 shares valued at $452,707. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On GameStop

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its stake in shares of GameStop by 805.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock valued at $45,000 after buying an additional 2,014 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of GameStop in the second quarter worth about $51,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GameStop in the fourth quarter worth about $54,000. Global Assets Advisory LLC acquired a new stake in GameStop during the first quarter worth about $60,000. Finally, CX Institutional raised its position in GameStop by 537.1% during the second quarter. CX Institutional now owns 3,313 shares of the company’s stock valued at $73,000 after acquiring an additional 2,793 shares in the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

GameStop Company Profile

GameStop Corp. is a multichannel retailer focused on video game products and related entertainment merchandise. The company sells new and pre-owned video game hardware, software, accessories and consumer electronics through its retail stores and e-commerce websites. Its product offerings include gaming consoles, controllers, headsets, games and other equipment for major platforms.

GameStop also sells collectibles, apparel, toys, trading cards and other products connected to video games and popular culture.