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

Shares of GameStop Corp. (NYSE:GME) gapped up before the market opened on Friday . The stock had previously closed at $26.34, but opened at $28.90. GameStop shares last traded at $27.72, with a volume of 5,231,312 shares.

Analyst Upgrades and Downgrades

GME has been the subject of several research analyst reports. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Saturday, October 19th. Wedbush reaffirmed an “underperform” rating and issued a $10.00 target price on shares of GameStop in a research note on Friday, December 6th.

GameStop Trading Up 3.2 %

The stock has a market cap of $12.14 billion, a P/E ratio of 151.01 and a beta of -0.11. The company has a 50 day simple moving average of $28.91 and a 200 day simple moving average of $25.18.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. The business’s revenue was down 20.2% compared to the same quarter last year. As a group, sell-side analysts expect that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares in the company, valued at $1,315,814.50. The trade was a 3.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares of the company’s stock, valued at $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of GameStop by 22.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after purchasing an additional 646,488 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in GameStop in the 4th quarter valued at about $878,000. Swiss National Bank raised its holdings in GameStop by 46.0% in the 3rd quarter. Swiss National Bank now owns 790,528 shares of the company’s stock valued at $18,127,000 after acquiring an additional 249,100 shares during the period. Algert Global LLC lifted its position in GameStop by 270.5% during the third quarter. Algert Global LLC now owns 150,526 shares of the company’s stock worth $3,452,000 after acquiring an additional 109,900 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of GameStop by 41.7% during the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after acquiring an additional 138,597 shares during the period. Institutional investors own 29.21% of the company’s stock.

About GameStop

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.