GameStop Corp. (NYSE:GME) Short Interest Down 5.6% in January

GameStop Corp. (NYSE:GME) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 30,330,000 shares, a drop of 5.6% from the January 15th total of 32,140,000 shares. Based on an average daily volume of 10,750,000 shares, the short-interest ratio is presently 2.8 days.

GameStop Price Performance

Shares of NYSE GME opened at $26.97 on Wednesday. The company has a market cap of $12.05 billion, a P/E ratio of 149.81 and a beta of -0.11. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The firm has a 50-day simple moving average of $28.90 and a two-hundred day simple moving average of $25.24.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.09. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business’s revenue was down 20.2% on a year-over-year basis. As a group, equities research analysts expect that GameStop will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Daniel William Moore sold 895 shares of GameStop 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 in the company, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

Several institutional investors and hedge funds have recently modified their holdings of GME. CWM LLC raised its stake in shares of GameStop by 19.9% during the third quarter. CWM LLC now owns 3,189 shares of the company’s stock valued at $73,000 after acquiring an additional 529 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of GameStop by 41.1% during the third quarter. Louisiana State Employees Retirement System now owns 107,500 shares of the company’s stock valued at $2,465,000 after acquiring an additional 31,300 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of GameStop by 50.1% during the third quarter. State of Alaska Department of Revenue now owns 45,052 shares of the company’s stock valued at $1,033,000 after acquiring an additional 15,045 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of GameStop by 5.4% during the third quarter. New York State Teachers Retirement System now owns 281,364 shares of the company’s stock valued at $6,452,000 after acquiring an additional 14,400 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of GameStop by 8.1% during the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock valued at $41,866,000 after acquiring an additional 136,785 shares in the last quarter. 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.