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

GameStop Corp. (NYSE:GME) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 65,690,000 shares, an increase 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 currently 17.0 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GME. Wedbush lowered their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday, March 27th. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th.

GameStop Stock Up 3.1 %

Shares of GME opened at $10.37 on Wednesday. GameStop has a 12 month low of $9.95 and a 12 month high of $27.65. The firm’s 50 day moving average is $13.43 and its 200-day moving average is $14.29. The stock has a market capitalization of $3.17 billion, a PE ratio of 518.76 and a beta of -0.45. The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01.

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

Insider Transactions at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,379 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total value of $50,840.19. Following the sale, the general counsel now directly owns 64,308 shares of the company’s stock, valued at approximately $746,615.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Lawrence Cheng purchased 10,000 shares of the stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $11.22 per share, with a total value of $112,200.00. Following the acquisition, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were 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 directly owns 64,308 shares in the company, valued at $746,615.88. The disclosure for this sale can be found here. Insiders sold a total of 5,957 shares of company stock worth $68,971 in the last three months. Insiders own 12.64% of the company’s stock.

Institutional Trading of GameStop

Several large investors have recently made changes to their positions in GME. Covestor Ltd boosted its position in GameStop by 323.2% in the first quarter. Covestor Ltd now owns 237 shares of the company’s stock valued at $39,000 after buying an additional 181 shares in the last quarter. IFP Advisors Inc boosted its position in GameStop by 99.7% in the third quarter. IFP Advisors Inc now owns 2,708 shares of the company’s stock valued at $45,000 after buying an additional 1,352 shares in the last quarter. Fifth Third Bancorp boosted its position in GameStop by 175.6% in the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock valued at $47,000 after buying an additional 1,819 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in GameStop in the first quarter valued at approximately $50,000. Finally, Headlands Technologies LLC acquired a new stake in GameStop in the fourth quarter valued at approximately $55,000. 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.