GameStop Target of Unusually High Options Trading (NYSE:GME)

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GameStop Corp. (NYSE:GMEGet Rating) was the target of unusually large options trading on Friday. Traders purchased 178,598 call options on the company. This represents an increase of approximately 27% compared to the average daily volume of 140,262 call options.

Institutional Investors Weigh In On GameStop

Several institutional investors have recently modified their holdings of GME. SG Americas Securities LLC boosted its position in shares of GameStop by 347.1% during the fourth quarter. SG Americas Securities LLC now owns 4,194 shares of the company’s stock valued at $622,000 after buying an additional 3,256 shares during the last quarter. Bank of America Corp DE boosted its position in shares of GameStop by 99.1% during the fourth quarter. Bank of America Corp DE now owns 31,107 shares of the company’s stock valued at $4,616,000 after buying an additional 15,480 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of GameStop by 477.0% during the fourth quarter. California Public Employees Retirement System now owns 85,400 shares of the company’s stock valued at $12,673,000 after buying an additional 70,600 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of GameStop by 29.4% during the fourth quarter. Teacher Retirement System of Texas now owns 12,836 shares of the company’s stock valued at $1,905,000 after buying an additional 2,914 shares during the last quarter. Finally, Citigroup Inc. boosted its position in GameStop by 9.1% in the fourth quarter. Citigroup Inc. now owns 18,049 shares of the company’s stock worth $2,679,000 after purchasing an additional 1,499 shares during the last quarter. 9.57% of the stock is owned by hedge funds and other institutional investors.

GameStop Price Performance

Shares of NYSE:GME opened at $28.92 on Friday. GameStop has a 1-year low of $19.40 and a 1-year high of $63.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.07 and a quick ratio of 1.25. The business has a fifty day moving average price of $34.24 and a 200-day moving average price of $32.31. The company has a market capitalization of $8.81 billion, a PE ratio of -16.89 and a beta of -0.71.

GameStop (NYSE:GMEGet Rating) last issued its quarterly earnings results on Wednesday, September 7th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.03. GameStop had a negative return on equity of 31.93% and a negative net margin of 8.57%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned ($0.19) earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. As a group, equities analysts expect that GameStop will post -1.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GME shares. StockNews.com upgraded GameStop to a “sell” rating in a report on Friday. Wedbush decreased their price objective on GameStop from $30.00 to $7.50 and set an “underperform” rating for the company in a report on Friday, July 22nd.

GameStop Company Profile

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GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.

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