GameStop Target of Unusually High Options Trading (GME)

GameStop Corp. (NYSE:GME) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 16,573 put options on the company. This represents an increase of 1,025% compared to the typical daily volume of 1,473 put options.

A number of equities research analysts have issued reports on GME shares. Bank of America set a $10.00 price objective on shares of GameStop and gave the stock a “sell” rating in a research note on Saturday, October 20th. Zacks Investment Research reiterated a “sell” rating on shares of GameStop in a research note on Tuesday, November 13th. Wedbush reduced their price objective on shares of GameStop from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, November 30th. TheStreet downgraded shares of GameStop from a “c” rating to a “d+” rating in a research note on Friday, November 30th. Finally, Loop Capital set a $16.00 price objective on shares of GameStop and gave the stock a “hold” rating in a research note on Friday, November 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.13.

Shares of GameStop stock opened at $15.96 on Friday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 4.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 1.10. GameStop has a 12-month low of $11.56 and a 12-month high of $20.31.

GameStop (NYSE:GME) last announced its quarterly earnings data on Thursday, November 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. GameStop had a negative net margin of 6.45% and a positive return on equity of 15.72%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts predict that GameStop will post 2.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 21st. Stockholders of record on Tuesday, December 11th were paid a $0.38 dividend. The ex-dividend date was Monday, December 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.52%. GameStop’s payout ratio is currently 45.51%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of GameStop by 3.9% in the 3rd quarter. BlackRock Inc. now owns 14,800,155 shares of the company’s stock valued at $225,998,000 after purchasing an additional 550,779 shares in the last quarter. FMR LLC boosted its stake in shares of GameStop by 2.2% in the 3rd quarter. FMR LLC now owns 14,544,866 shares of the company’s stock valued at $222,100,000 after purchasing an additional 319,831 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of GameStop by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,061,311 shares of the company’s stock valued at $153,636,000 after purchasing an additional 206,731 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of GameStop by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 10,061,311 shares of the company’s stock valued at $153,636,000 after purchasing an additional 206,731 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of GameStop by 3.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,032,862 shares of the company’s stock valued at $46,313,000 after purchasing an additional 99,147 shares in the last quarter. Institutional investors own 98.65% of the company’s stock.

WARNING: This piece of content was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.chaffeybreeze.com/2019/01/11/gamestop-target-of-unusually-high-options-trading-gme.html.

About GameStop

GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.

Featured Story: Stock Symbol

Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply