GameStop (NYSE:GME) Sees Strong Trading Volume

GameStop Corp. (NYSE:GME) shares saw unusually-high trading volume on Thursday . Approximately 29,165,256 shares were traded during mid-day trading, an increase of 468% from the previous session’s volume of 5,131,319 shares.The stock last traded at $3.87 and had previously closed at $3.54.

GME has been the topic of a number of research analyst reports. Wedbush set a $9.00 target price on shares of GameStop and gave the company a “buy” rating in a research report on Thursday, July 11th. ValuEngine upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Sunday, June 9th. Loop Capital set a $7.00 target price on shares of GameStop and gave the company a “hold” rating in a research report on Monday, July 15th. Benchmark restated a “sell” rating and issued a $5.00 target price (down previously from $9.00) on shares of GameStop in a research report on Wednesday, June 5th. Finally, Ascendiant Capital Markets lowered shares of GameStop from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Wednesday, June 5th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. GameStop has a consensus rating of “Hold” and a consensus target price of $8.95.

The company has a market cap of $362.03 million, a price-to-earnings ratio of 1.58 and a beta of 0.38. The business’s fifty day moving average price is $4.12 and its 200 day moving average price is $7.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.48 and a quick ratio of 0.59.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.09. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.64 billion. GameStop had a negative net margin of 8.32% and a positive return on equity of 14.55%. GameStop’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. As a group, equities research analysts anticipate that GameStop Corp. will post 1.5 EPS for the current year.

Several large investors have recently modified their holdings of GME. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of GameStop during the first quarter worth $51,000. Bank of Montreal Can lifted its holdings in shares of GameStop by 274.9% during the second quarter. Bank of Montreal Can now owns 9,605 shares of the company’s stock worth $52,000 after purchasing an additional 7,043 shares during the period. Investors Research Corp acquired a new position in shares of GameStop during the first quarter worth $55,000. Handelsbanken Fonder AB acquired a new position in shares of GameStop during the second quarter worth $65,000. Finally, OneAscent Financial Services LLC acquired a new position in shares of GameStop during the second quarter worth $70,000. Institutional investors own 98.68% of the company’s stock.

About GameStop (NYSE:GME)

GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. 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 for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.

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