Short Interest in GameStop Corp. (NYSE:GME) Decreases By 5.6%

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

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 895 shares of the stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by corporate insiders.

Institutional Trading of GameStop

A number of hedge funds have recently made changes to their positions in GME. Vanguard Group Inc. increased its position in GameStop by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock valued at $1,226,775,000 after buying an additional 2,036,032 shares in the last quarter. State Street Corp increased its holdings in shares of GameStop by 38.0% during the third quarter. State Street Corp now owns 11,143,759 shares of the company’s stock valued at $255,526,000 after acquiring an additional 3,070,571 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GameStop by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company’s stock worth $208,769,000 after purchasing an additional 380,554 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in GameStop by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock worth $113,146,000 after purchasing an additional 107,354 shares in the last quarter. Finally, Northern Trust Corp grew its position in GameStop by 26.2% during the 4th quarter. Northern Trust Corp now owns 3,171,303 shares of the company’s stock valued at $99,389,000 after purchasing an additional 659,345 shares during the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Stock Down 3.5 %

GME opened at $26.02 on Thursday. The stock has a market cap of $11.63 billion, a PE ratio of 144.57 and a beta of -0.11. The business has a 50 day moving average of $28.84 and a 200-day moving average of $25.28. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to analysts’ expectations of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. Equities analysts anticipate that GameStop will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research report on Friday, December 6th.

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.