GameStop (NYSE:GME) Shares Gap Up to $19.00

GameStop Corp. (NYSE:GMEGet Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $19.00, but opened at $23.10. GameStop shares last traded at $21.64, with a volume of 18,226,864 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on GME. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Wedbush upped their price target on shares of GameStop from $5.60 to $7.00 and gave the stock an “underperform” rating in a report on Friday, May 17th.

Read Our Latest Stock Report on GME

GameStop Trading Up 21.7 %

The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. The company has a market cap of $7.08 billion, a P/E ratio of 1,095.55 and a beta of -0.25. The firm’s 50 day moving average is $15.58 and its two-hundred day moving average is $15.10.

GameStop (NYSE:GMEGet Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business’s revenue was down 19.4% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. As a group, equities research analysts anticipate that GameStop Corp. will post 0.01 EPS for the current year.

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 7,779 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the sale, the insider now directly owns 13,606 shares of the company’s stock, valued at approximately $138,781.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total value of $79,345.80. Following the completion of the sale, the insider now directly owns 13,606 shares of the company’s stock, valued at $138,781.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,421 shares of company stock valued at $288,153. 12.28% of the stock is currently owned by insiders.

Institutional Trading of GameStop

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of GameStop by 1.4% in the third quarter. Vanguard Group Inc. now owns 25,283,111 shares of the company’s stock worth $416,160,000 after acquiring an additional 345,488 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of GameStop by 12.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,606,532 shares of the company’s stock worth $45,693,000 after acquiring an additional 289,947 shares during the period. Barclays PLC boosted its holdings in shares of GameStop by 133.3% in the third quarter. Barclays PLC now owns 346,830 shares of the company’s stock worth $5,710,000 after acquiring an additional 198,140 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of GameStop by 844.8% in the third quarter. Canada Pension Plan Investment Board now owns 191,800 shares of the company’s stock worth $3,157,000 after acquiring an additional 171,500 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of GameStop by 11.1% in the first quarter. Van ECK Associates Corp now owns 1,479,191 shares of the company’s stock worth $18,519,000 after acquiring an additional 147,655 shares during the period. 29.21% of the stock is owned by hedge funds and other institutional investors.

About GameStop

(Get Free Report)

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.

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