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

GameStop Corp. (NYSE:GME) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 35,970,000 shares, a decline of 5.2% from the July 31st total of 37,930,000 shares. Based on an average daily trading volume, of 36,410,000 shares, the short-interest ratio is presently 1.0 days.

Analyst Upgrades and Downgrades

GME has been the subject of several research analyst reports. StockNews.com raised GameStop to a “sell” rating in a report on Monday, August 26th. Wedbush cut their price target on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a research note on Wednesday, June 12th.

GameStop Price Performance

NYSE GME opened at $22.13 on Thursday. The business’s fifty day moving average is $23.43 and its 200 day moving average is $19.82. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 2.22. The company has a market capitalization of $7.77 billion, a PE ratio of 276.63 and a beta of -0.09.

GameStop (NYSE:GME) last released its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The firm had revenue of $881.80 million during the quarter, compared to analysts’ expectations of $995.30 million. During the same period in the prior year, the company posted ($0.14) earnings per share. The company’s revenue was down 28.7% compared to the same quarter last year. Sell-side analysts predict that GameStop will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On GameStop

A number of institutional investors have recently bought and sold shares of GME. AlphaMark Advisors LLC grew its position in shares of 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 in the last quarter. Centerpoint Advisors LLC bought a new position in GameStop in the 2nd quarter worth approximately $47,000. GAMMA Investing LLC grew its holdings in GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after buying an additional 511 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after buying an additional 3,025 shares in the last quarter. Finally, CWM LLC raised its position in shares of GameStop by 115.6% during the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after buying an additional 1,426 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

About GameStop

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.