GameStop Corp. (NYSE:GME) Sees Large Decrease in Short Interest

GameStop Corp. (NYSE:GME) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 37,930,000 shares, a decline of 6.0% from the July 15th total of 40,340,000 shares. Based on an average daily trading volume, of 50,100,000 shares, the days-to-cover ratio is currently 0.8 days.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the transaction, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Lawrence Cheng bought 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the acquisition, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the transaction, the general counsel now directly owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. Insiders have sold 3,183 shares of company stock worth $81,001 over the last 90 days. 12.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On GameStop

Several hedge funds and other institutional investors have recently made changes to their positions in GME. AlphaMark Advisors LLC increased its position in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in GameStop in the second quarter valued at $47,000. GAMMA Investing LLC lifted its stake in GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of GameStop in the 4th quarter valued at $55,000. Finally, Russell Investments Group Ltd. boosted its stake in GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after acquiring an additional 3,025 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Price Performance

GME opened at $22.29 on Wednesday. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The business’s 50-day moving average is $24.14 and its two-hundred day moving average is $19.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. The firm has a market capitalization of $7.83 billion, a PE ratio of 278.63 and a beta of -0.09.

GameStop (NYSE:GME) last announced its quarterly earnings data on Friday, June 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a net margin of 0.51% and a return on equity of 1.78%. The company had revenue of $881.80 million for the quarter, compared to analysts’ expectations of $995.30 million. During the same period last year, the firm earned ($0.14) earnings per share. GameStop’s quarterly revenue was down 28.7% compared to the same quarter last year. Research analysts anticipate that GameStop will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on GME shares. Wedbush decreased their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 12th. StockNews.com upgraded GameStop to a “sell” rating in a report on Saturday, August 3rd.

GameStop Company Profile

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.