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

GameStop Corp. (NYSE:GME) was the recipient of unusually large options trading on Friday. Stock investors acquired 376,897 call options on the stock. This is an increase of 126% compared to the typical volume of 166,426 call options.

Insider Transactions at GameStop

In other news, CEO Ryan Cohen acquired 1,150,680 shares of the business’s stock in a transaction on Monday, September 21st. The stock was bought at an average price of $22.94 per share, for a total transaction of $26,396,599.20. Following the transaction, the chief executive officer owned 40,498,522 shares in the company, valued at $929,036,094.68. This represents a 2.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alain Attal bought 17,500 shares of GameStop stock in a transaction dated Monday, September 21st. The stock was purchased at an average price of $22.97 per share, with a total value of $401,975.00. Following the purchase, the director directly owned 618,964 shares in the company, valued at approximately $14,217,603.08. This trade represents a 2.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 3,388,642 shares of company stock worth $76,220,115 and sold 18,475 shares worth $452,707. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On GameStop

A number of institutional investors and hedge funds have recently bought and sold shares of GME. Rockefeller Capital Management L.P. increased its position in GameStop by 805.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the company’s stock worth $45,000 after buying an additional 2,014 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of GameStop in the second quarter valued at $51,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GameStop in the fourth quarter valued at $54,000. Global Assets Advisory LLC acquired a new stake in shares of GameStop during the first quarter valued at $60,000. Finally, CX Institutional boosted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Ratings Changes

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

GameStop Stock Performance

NYSE:GME opened at $26.64 on Friday. The firm’s fifty day simple moving average is $20.84 and its 200-day simple moving average is $21.98. The company has a quick ratio of 8.07, a current ratio of 8.72 and a debt-to-equity ratio of 0.68. The stock has a market cap of $13.44 billion, a PE ratio of 17.53 and a beta of 1.63. GameStop has a fifty-two week low of $17.79 and a fifty-two week high of $26.88.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $790.20 million during the quarter, compared to analysts’ expectations of $756.85 million. GameStop had a net margin of 25.16% and a return on equity of 13.57%. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share.

About GameStop

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.