GameStop Corp. (NYSE:GME) Short Interest Update

GameStop Corp. (NYSE:GME) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 37,930,000 shares, a decrease 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.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GME. Wedbush decreased their price objective on GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Saturday, August 3rd.

GameStop Price Performance

GME stock opened at $22.68 on Tuesday. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. 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 $7.97 billion, a PE ratio of 283.50 and a beta of -0.09. The business has a 50 day simple moving average of $24.30 and a 200-day simple moving average of $19.22.

GameStop (NYSE:GME) last issued 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 net margin of 0.51% and a return on equity of 1.78%. The company had revenue of $881.80 million during the quarter, compared to analysts’ expectations of $995.30 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The firm’s quarterly revenue was down 28.7% compared to the same quarter last year. Equities research analysts anticipate that GameStop will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at GameStop

In related news, Director Lawrence Cheng purchased 4,140 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were purchased at an average price of $24.85 per share, with a total value of $102,879.00. Following the purchase, the director now owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lawrence Cheng purchased 4,140 shares of GameStop stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the transaction, the director now directly owns 69,228 shares in the company, valued at $1,720,315.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of GameStop 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 sale, the general counsel now owns 48,408 shares in the company, valued at $1,274,582.64. The disclosure for this sale can be found here. Insiders sold a total of 3,183 shares of company stock valued at $81,001 in the last three months. 12.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GameStop

Several institutional investors and hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund Corp raised its position in shares of GameStop by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 235,081 shares of the company’s stock valued at $2,943,000 after buying an additional 3,459 shares during the period. Coatue Management LLC acquired a new position in shares of GameStop in the 4th quarter valued at $1,315,000. State of Michigan Retirement System grew its holdings in shares of GameStop by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock worth $826,000 after purchasing an additional 1,600 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of GameStop by 2.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock worth $2,438,000 after purchasing an additional 5,411 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in GameStop by 7.0% in the 1st quarter. BNP Paribas Financial Markets now owns 157,242 shares of the company’s stock valued at $1,969,000 after buying an additional 10,289 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

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.