GameStop Corp. (NYSE:GME) Short Interest Up 10.3% in March

GameStop Corp. (NYSE:GME) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 65,690,000 shares, a growth of 10.3% from the March 15th total of 59,550,000 shares. Based on an average daily trading volume, of 3,860,000 shares, the short-interest ratio is presently 17.0 days.

GameStop Stock Up 3.1 %

NYSE:GME opened at $10.37 on Wednesday. The firm has a market cap of $3.17 billion, a P/E ratio of 518.76 and a beta of -0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $27.65. The firm has a 50-day simple moving average of $13.43 and a two-hundred day simple moving average of $14.29.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Analysts predict that GameStop will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at GameStop

In related news, Director Lawrence Cheng acquired 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was acquired at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the acquisition, the director now owns 65,088 shares of the company’s stock, valued at $730,287.36. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Lawrence Cheng acquired 10,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was acquired at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the acquisition, the director now owns 65,088 shares of the company’s stock, valued at $730,287.36. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total transaction of $50,840.19. Following the completion of the transaction, the general counsel now owns 64,308 shares of the company’s stock, valued at $746,615.88. The disclosure for this sale can be found here. Insiders sold 5,957 shares of company stock valued at $68,971 in the last quarter. Company insiders own 12.64% of the company’s stock.

Institutional Trading of GameStop

A number of institutional investors have recently made changes to their positions in GME. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of GameStop by 23.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock valued at $382,000 after acquiring an additional 439 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of GameStop by 4.3% during the 1st quarter. Citigroup Inc. now owns 18,826 shares of the company’s stock valued at $3,136,000 after acquiring an additional 777 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of GameStop by 21.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company’s stock valued at $390,000 after acquiring an additional 421 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of GameStop by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company’s stock worth $5,759,000 after buying an additional 1,854 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of GameStop by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock worth $2,108,000 after buying an additional 4,548 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analyst Ratings Changes

GME has been the subject of several research reports. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Wedbush decreased their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday, March 27th.

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.