GameStop Corp. (NYSE:GME) Short Interest Down 5.2% in August

GameStop Corp. (NYSE:GME) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 35,970,000 shares, a drop of 5.2% from the July 31st total of 37,930,000 shares. Based on an average trading volume of 36,410,000 shares, the short-interest ratio is currently 1.0 days.

GameStop Stock Down 4.4 %

Shares of GameStop stock opened at $22.13 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83. The company has a market cap of $7.77 billion, a P/E ratio of 276.63 and a beta of -0.09. The company’s fifty day simple moving average is $23.43 and its two-hundred day simple moving average is $19.82.

GameStop (NYSE:GME) last released its quarterly earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). GameStop had a return on equity of 1.78% and a net margin of 0.51%. The company had revenue of $881.80 million during the quarter, compared to the consensus estimate of $995.30 million. During the same period in the previous year, the company earned ($0.14) earnings per share. GameStop’s quarterly revenue was down 28.7% on a year-over-year basis. Research analysts anticipate that GameStop will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wedbush dropped their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, June 12th. StockNews.com raised GameStop to a “sell” rating in a research report on Monday, August 26th.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were 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 directly owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Lawrence Cheng bought 4,140 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were purchased at an average price of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the acquisition, the director now owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the sale, the general counsel now owns 48,408 shares of the company’s stock, valued at $1,274,582.64. The disclosure for this sale can be found here. Insiders have sold 3,183 shares of company stock worth $81,001 over the last ninety days. Insiders own 12.28% of the company’s stock.

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AlphaMark Advisors LLC grew its holdings in GameStop by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares during the period. Centerpoint Advisors LLC bought a new stake in shares of GameStop in the 2nd quarter worth approximately $47,000. GAMMA Investing LLC grew its stake in shares of GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after buying an additional 511 shares during the last quarter. Russell Investments Group Ltd. increased its position in GameStop by 147.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock valued at $65,000 after buying an additional 3,025 shares in the last quarter. Finally, CWM LLC raised its stake in GameStop by 115.6% during the second quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after buying an additional 1,426 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

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.