GameStop Corp. (NYSE:GME) Short Interest Update

GameStop Corp. (NYSE:GME) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 31,870,000 shares, a decline of 11.3% from the October 31st total of 35,940,000 shares. Based on an average daily trading volume, of 10,420,000 shares, the short-interest ratio is presently 3.1 days.

GameStop Stock Performance

GameStop stock traded down $1.84 during mid-day trading on Friday, reaching $29.05. The company’s stock had a trading volume of 10,473,673 shares, compared to its average volume of 12,429,982. GameStop has a 12 month low of $9.95 and a 12 month high of $64.83. The business’s 50 day simple moving average is $23.77 and its 200 day simple moving average is $23.76. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 223.48 and a beta of -0.13.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. GameStop’s quarterly revenue was down 31.4% on a year-over-year basis. As a group, sell-side analysts expect that GameStop will post 0.01 EPS for the current year.

Insider Buying and Selling

In other GameStop news, insider Daniel William Moore sold 2,624 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the sale, the insider now owns 32,280 shares of the company’s stock, valued at approximately $677,880. This represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the transaction, the general counsel now owns 54,927 shares of the company’s stock, valued at $1,206,196.92. This trade represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock valued at $481,000 over the last ninety days. Insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

A number of institutional investors and hedge funds have recently made changes to their positions in GME. State Street Corp lifted its stake in GameStop by 38.0% in the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock valued at $255,526,000 after purchasing an additional 3,070,571 shares during the last quarter. Geode Capital Management LLC raised its stake in GameStop by 41.8% in the third 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 during the period. Charles Schwab Investment Management Inc. lifted its position in shares of GameStop by 22.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock valued at $80,322,000 after buying an additional 646,488 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of GameStop during the 2nd quarter worth approximately $9,577,000. Finally, Renaissance Technologies LLC increased its holdings in shares of GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock worth $33,261,000 after acquiring an additional 342,178 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush cut their price target on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a research note on Saturday, October 19th.

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.