GameStop Corp. (NYSE:GME) Short Interest Down 5.6% in January

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

GameStop Stock Performance

Shares of GME stock opened at $26.97 on Wednesday. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 149.81 and a beta of -0.11. The stock’s 50-day simple moving average is $28.90 and its 200-day simple moving average is $25.24.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $860.30 million for the quarter, compared to analyst estimates of $887.68 million. The business’s revenue was down 20.2% compared to the same quarter last year. As a group, equities analysts forecast that GameStop will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at GameStop

In other GameStop news, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On GameStop

A number of institutional investors and hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of GameStop by 42.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,036,589 shares of the company’s stock worth $32,487,000 after purchasing an additional 307,903 shares during the period. Vident Advisory LLC lifted its holdings in shares of GameStop by 12.1% during the fourth quarter. Vident Advisory LLC now owns 31,384 shares of the company’s stock worth $984,000 after purchasing an additional 3,387 shares during the period. Soviero Asset Management LP acquired a new stake in shares of GameStop during the fourth quarter worth about $2,037,000. Two Sigma Advisers LP lifted its holdings in shares of GameStop by 10.7% during the fourth quarter. Two Sigma Advisers LP now owns 91,477 shares of the company’s stock worth $2,867,000 after purchasing an additional 8,814 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of GameStop by 43.6% during the fourth quarter. Tidal Investments LLC now owns 21,695 shares of the company’s stock worth $680,000 after purchasing an additional 6,585 shares during the period. 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.