GameStop Corp. (NYSE:GME) Short Interest Update

GameStop Corp. (NYSE:GME) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 65,690,000 shares, a growth of 10.3% from the March 15th total of 59,550,000 shares. Based on an average trading volume of 3,860,000 shares, the days-to-cover ratio is currently 17.0 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush cut their price objective on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday, March 27th.

GameStop Price Performance

Shares of GameStop stock opened at $10.37 on Wednesday. The firm has a fifty day moving average price of $13.43 and a two-hundred day moving average price of $14.29. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $27.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.11 and a quick ratio of 1.44. The company has a market cap of $3.17 billion, a PE ratio of 518.76 and a beta of -0.45.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a return on equity of 1.35% and a net margin of 0.13%. GameStop’s revenue was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. Analysts expect that GameStop will post 0.01 EPS for the current year.

Insider Buying and Selling at GameStop

In other GameStop news, Director Lawrence Cheng purchased 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were purchased at an average price of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the transaction, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares of the company’s stock, valued at $746,615.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Cheng purchased 10,000 shares of GameStop stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average price of $11.22 per share, with a total value of $112,200.00. Following the transaction, the director now owns 65,088 shares in the company, valued at approximately $730,287.36. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,957 shares of company stock valued at $68,971. 12.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Covestor Ltd increased its holdings in GameStop by 323.2% during the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock valued at $39,000 after purchasing an additional 181 shares in the last quarter. IFP Advisors Inc grew its holdings in GameStop by 99.7% during the 3rd quarter. IFP Advisors Inc now owns 2,708 shares of the company’s stock worth $45,000 after acquiring an additional 1,352 shares during the last quarter. Fifth Third Bancorp increased its position in GameStop by 175.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock valued at $47,000 after acquiring an additional 1,819 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of GameStop in the first quarter worth about $50,000. Finally, Headlands Technologies LLC acquired a new position in shares of GameStop during the fourth quarter worth approximately $55,000. 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.