Stock Traders Purchase Large Volume of Call Options on GameStop (NYSE:GME)

GameStop Corp. (NYSE:GMEGet Rating) saw unusually large options trading on Friday. Stock investors acquired 238,593 call options on the stock. This represents an increase of 94% compared to the average daily volume of 123,035 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Xponance Inc. lifted its position in shares of GameStop by 0.6% during the 1st quarter. Xponance Inc. now owns 13,459 shares of the company’s stock worth $2,242,000 after purchasing an additional 76 shares during the last quarter. Sittner & Nelson LLC increased its holdings in shares of GameStop by 69.6% in the 4th quarter. Sittner & Nelson LLC now owns 229 shares of the company’s stock valued at $34,000 after acquiring an additional 94 shares during the last quarter. Gables Capital Management Inc. raised its position in shares of GameStop by 50.0% during the 1st quarter. Gables Capital Management Inc. now owns 300 shares of the company’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in GameStop by 6.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,856 shares of the company’s stock worth $275,000 after purchasing an additional 106 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in GameStop by 5.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 3,121 shares of the company’s stock valued at $461,000 after purchasing an additional 152 shares in the last quarter. 38.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush cut their price objective on GameStop from $30.00 to $7.50 and set an “underperform” rating for the company in a research report on Friday, July 22nd.

GameStop Stock Up 4.3 %

Shares of NYSE GME opened at $40.02 on Friday. GameStop has a 52-week low of $19.40 and a 52-week high of $63.92. The business’s 50 day moving average is $36.08 and its two-hundred day moving average is $32.09. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of -25.57 and a beta of -0.85. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.02.

GameStop (NYSE:GMEGet Rating) last announced its earnings results on Wednesday, June 1st. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.32 billion. GameStop had a negative net margin of 7.73% and a negative return on equity of 27.61%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) earnings per share. Research analysts predict that GameStop will post -1.5 EPS for the current year.

GameStop Company Profile

(Get Rating)

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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