Short Interest in GameStop Corp. (NYSE:GME) Decreases By 5.6%

GameStop Corp. (NYSE:GME) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 30,330,000 shares, a decrease of 5.6% from the January 15th total of 32,140,000 shares. Based on an average trading volume of 10,750,000 shares, the days-to-cover ratio is currently 2.8 days.

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the sale, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in GameStop by 38.0% in the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock worth $255,526,000 after purchasing an additional 3,070,571 shares during the period. Vanguard Group Inc. increased its position in GameStop by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock worth $1,226,775,000 after buying an additional 2,036,032 shares in the last quarter. Slate Path Capital LP bought a new position in shares of GameStop in the fourth quarter worth about $60,361,000. Geode Capital Management LLC lifted its position in shares of GameStop by 41.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock valued at $144,009,000 after buying an additional 1,852,088 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of GameStop by 606.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company’s stock valued at $51,735,000 after acquiring an additional 1,417,156 shares during the period. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an “underperform” rating and set a $10.00 target price on shares of GameStop in a research note on Friday, December 6th.

GameStop Stock Performance

GME stock opened at $26.02 on Thursday. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 144.57 and a beta of -0.11. The business’s 50-day moving average is $28.84 and its two-hundred day moving average is $25.28. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to analysts’ expectations of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. Equities analysts predict that GameStop will post 0.08 earnings per share for the current year.

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.