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 (528) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious GME increase. With 528 contracts traded and 9544 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: GME161216C00024000 closed last at: $0.71 or 9% down. About 4.36M shares traded hands or 50.87% up from the average. GameStop Corp. (NYSE:GME) has declined 25.38% since April 21, 2016 and is downtrending. It has underperformed by 30.71% the S&P500.

GameStop Corp. (NYSE:GME) Ratings Coverage

Out of 16 analysts covering GameStop Corp. (NYSE:GME), 9 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 56% are positive. $60 is the highest target while $20.67 is the lowest. The $38.05 average target is 48.81% above today’s ($25.57) stock price. GameStop Corp. has been the topic of 45 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Tuesday, November 24 by Telsey Advisory Group. Wedbush maintained the shares of GME in a report on Wednesday, January 13 with “Outperform” rating. The stock has “Buy” rating given by Robert W. Baird on Wednesday, August 26. The firm has “Buy” rating by SunTrust given on Friday, August 14. The company was maintained on Wednesday, August 12 by Piper Jaffray. The stock of GameStop Corp. (NYSE:GME) earned “Outperform” rating by Robert W. Baird on Friday, August 26. Pacific Crest downgraded GameStop Corp. (NYSE:GME) on Friday, November 13 to “Sector Weight” rating. The rating was maintained by Credit Suisse on Monday, March 28 with “Neutral”. Pacific Crest maintained the shares of GME in a report on Monday, August 31 with “Overweight” rating. Telsey Advisory Group maintained GameStop Corp. (NYSE:GME) rating on Friday, August 28. Telsey Advisory Group has “Market Perform” rating and $47 price target.

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 increased to 0.86 in 2016 Q2. Its up 0.22, from 0.64 in 2016Q1. The ratio improved, 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.
Hussman Strategic Advsrs owns 4,600 shares or 0.02% of their US portfolio. Employees Retirement Systems Of Texas has 19,000 shares for 0.01% of their US portfolio. Ifrah Fincl reported 18,729 shares or 0.2% of all its holdings. Pub Employees Retirement Association Of Colorado has 0.01% invested in the company for 23,295 shares. Pdts Prtn Lc holds 0.55% or 261,100 shares in its portfolio. Euclidean Techs Mgmt Lc accumulated 2.02% or 70,900 shares. Convergence Invest Prtn Ltd holds 0.07% of its portfolio in GameStop Corp. (NYSE:GME) for 18,935 shares. Da Davidson holds 0% of its portfolio in GameStop Corp. (NYSE:GME) for 3,352 shares. Benjamin F Edwards holds 700 shares or 0% of its portfolio. Cubist Systematic Strategies Lc holds 10,652 shares or 0.02% of its portfolio. Moreover, Advantus Capital Management has 0.01% invested in GameStop Corp. (NYSE:GME) for 12,589 shares. Marshall Wace Limited Liability Partnership, a United Kingdom-based fund reported 21,483 shares. Stevens Cap Management Ltd Partnership last reported 0.01% of its portfolio in the stock. Mizuho And Bk Co reported 4,990 shares or 0% of all its holdings. Independent Portfolio Consultants Incorporated, a Florida-based fund reported 655 shares.

GameStop Corp. is an omnichannel video game retailer. The company has a market cap of $2.73 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 6.76 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 notable recent GameStop Corp. (NYSE:GME) news were published by: Fool.com which released: “GameStop Corp. Sales Trends Improve Ahead of Critical Holiday Season” on November 23, 2016, also Reuters.com with their article: “GameStop’s holiday same-store sales forecast disappoints” published on November 22, 2016, Fool.com published: “3 Gaming Stocks That Are Better Bets Than Gamestop Corp.” on November 18, 2016. More interesting news about GameStop Corp. (NYSE:GME) were released by: Nasdaq.com and their article: “Earnings Reaction History: GameStop Corp., 54.5% Follow-Through Indicator, 14 …” published on November 22, 2016 as well as Fool.com‘s news article titled: “2 Signs You Should Sell GameStop Corp. Stock” with publication date: October 24, 2016.

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