What’s Propelling GameStop Corp. to Increase So Much?

 What's Propelling GameStop Corp. to Increase So Much?

In today’s session GameStop Corp. (GME) registered an unusually high (162) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious GME increase. With 162 contracts traded and 12224 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: GME170120C00031000 closed last at: $0.24 or 0% . About 911,387 shares traded hands. GameStop Corp. (NYSE:GME) has declined 20.27% since March 28, 2016 and is downtrending. It has underperformed by 24.98% the S&P500.

GameStop Corp. (NYSE:GME) Ratings Coverage

Out of 15 analysts covering GameStop Corp. (NYSE:GME), 10 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 67% are positive. GameStop Corp. has been the topic of 41 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Perform” rating given on Tuesday, November 24 by Oppenheimer. Telsey Advisory Group maintained GameStop Corp. (NYSE:GME) rating on Friday, August 28. Telsey Advisory Group has “Market Perform” rating and $47 price target. The firm earned “Neutral” rating on Monday, January 4 by Sterne Agee CRT. The firm has “Neutral” rating given on Tuesday, November 24 by Bank of America. The firm has “Outperform” rating given on Monday, June 27 by Telsey Advisory Group. As per Monday, July 11, the company rating was upgraded by Bank of America. The rating was downgraded by Zacks to “Buy” on Thursday, August 6. Zacks upgraded GameStop Corp. (NYSE:GME) rating on Monday, August 17. Zacks has “Hold” rating and $53 price target. The stock of GameStop Corp. (NYSE:GME) has “Neutral” rating given on Monday, March 28 by Credit Suisse. The firm earned “Buy” rating on Thursday, December 10 by SunTrust.

According to Zacks Investment Research, “GameStop Corp. is the world’s largest video game and entertainment software retailer. The company operates 4,816 retail stores across the United States and in fifteen countries worldwide. The company also operates two e-commerce sites, GameStop.com and EBgames.com, and publishes Game Informer® magazine, a leading multi-platform video game publication. GameStop Corp. sells new and used video game software, hardware and accessories for next generation video game systems from Sony, Nintendo, and Microsoft. In addition, the company sells PC entertainment software, related accessories and other merchandise.”

Insitutional Activity: The institutional sentiment decreased to 0.64 in Q2 2016. Its down 0.29, from 0.93 in 2016Q1. The ratio is negative, as 108 funds sold all GameStop Corp. shares owned while 120 reduced positions. 39 funds bought stakes while 107 increased positions. They now own 107.16 million shares or 15.47% less from 126.78 million shares in 2016Q1.
Moreover, Hightower Advsr has 0% invested in GameStop Corp. (NYSE:GME) for 12,018 shares. California State Teachers Retirement System, a California-based fund reported 222,486 shares. Financial Pro Inc owns 5 shares or 0% of their US portfolio. The Australia-based Amp Cap Invsts Ltd has invested 0.03% in GameStop Corp. (NYSE:GME). Moreover, Freestone Holdg Ltd Liability has 0.06% invested in GameStop Corp. (NYSE:GME) for 22,359 shares. Aqr Mgmt Ltd Company has 0.07% invested in the company for 1.59 million shares. Renaissance Tech Limited Liability reported 1.28M shares or 0.06% of all its holdings. Acadian Asset Mgmt Limited Com has 385 shares for 0% of their US portfolio. Retirement Of Alabama has 0.02% invested in the company for 134,091 shares. Rhumbline Advisers accumulated 0.01% or 170,168 shares. Hancock Holding reported 344,065 shares or 0.38% of all its holdings. Moreover, Price T Rowe Associates Md has 0% invested in GameStop Corp. (NYSE:GME) for 32,404 shares. Long Road Counsel Ltd Liability Company has 0.83% invested in the company for 39,948 shares. The Massachusetts-based Babson Cap Mgmt Limited Liability Com has invested 0.02% in GameStop Corp. (NYSE:GME). Permit Limited Liability Company, a Pennsylvania-based fund reported 206,700 shares.

GameStop Corp. is an omnichannel video game retailer. The company has a market cap of $2.44 billion. The Firm sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It has a 6.39 P/E ratio. The Firm operates its business in four Video Game Brands divisions: United States, Canada, Australia and Europe, and Technology Brands segment.

GME Company Profile

GameStop Corp., incorporated on April 13, 2005, is an omnichannel video game retailer. The Firm sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Firm operates its business in four Video Game Brands divisions: United States, Canada, Australia and Europe, and Technology Brands segment. Each of the Video Game Brands divisions consists primarily of retail operations, with all stores engaged in the sale of new and pre-owned video game systems, software and accessories, which it refers to as video game products, new and pre-owned mobile devices and related accessories. The Company’s Video Game Brands stores sell various types of digital products, including downloadable content, network points cards, prepaid digital, prepaid subscription cards and digitally downloadable software, and also sell certain mobile and consumer electronics products and collectible products. The Company’s Technology Brands segment includes its Spring Mobile and Simply Mac businesses.

More news for GameStop Corp. (NYSE:GME) were recently published by: Fool.com, which released: “2 Signs You Should Sell GameStop Corp. Stock” on October 24, 2016. Seekingalpha.com‘s article titled: “GameStop: Buy This Beautiful Business” and published on October 24, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment