Short Interest in GameStop Corp. (NYSE:GME) Decreases By 11.3%

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

Wall Street Analyst Weigh In

GME has been the subject of several research analyst reports. Wedbush lowered their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, September 11th. StockNews.com upgraded GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Stock Down 6.0 %

GME traded down $1.84 during trading on Friday, hitting $29.05. The company’s stock had a trading volume of 10,473,673 shares, compared to its average volume of 12,429,982. The firm has a market capitalization of $12.39 billion, a P/E ratio of 223.48 and a beta of -0.13. The stock’s fifty day moving average price is $23.77 and its 200-day moving average price is $23.76. GameStop has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, topping 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 period in the prior year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was down 31.4% on a year-over-year basis. Equities research analysts expect that GameStop will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $20.82, for a total transaction of $229,020.00. Following the completion of the sale, the general counsel now owns 43,927 shares of the company’s stock, valued at $914,560.14. This represents a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel William Moore sold 2,624 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $21.00, for a total transaction of $55,104.00. Following the sale, the insider now directly owns 32,280 shares of the company’s stock, valued at approximately $677,880. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock valued at $481,000 in the last three months. 12.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GME. UMB Bank n.a. boosted its position in shares of GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after buying an additional 959 shares during the last quarter. AlphaMark Advisors LLC grew its stake in shares of GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after acquiring an additional 396 shares in the last quarter. Centerpoint Advisors LLC purchased a new stake in shares of GameStop in the second quarter valued at about $47,000. GAMMA Investing LLC lifted its position in shares of GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock valued at $51,000 after purchasing an additional 511 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in GameStop by 147.2% during the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company’s stock worth $65,000 after purchasing an additional 3,025 shares during the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.

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.