GameStop Corp. (NYSE:GME) Short Interest Update

GameStop Corp. (NYSE:GME - Get Free Report) was the target of a significant increase in short interest in 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 volume of 3,860,000 shares, the short-interest ratio is presently 17.0 days.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $11.61, for a total transaction of $50,840.19. Following the transaction, the general counsel now directly owns 64,308 shares of the company's stock, valued at $746,615.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other GameStop news, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop 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 transaction, the general counsel now directly owns 64,308 shares of the company's stock, valued at $746,615.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Cheng bought 10,000 shares of GameStop stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the purchase, the director now directly owns 65,088 shares of the company's stock, valued at $730,287.36. The disclosure for this purchase can be found here. Insiders have sold a total of 5,957 shares of company stock valued at $68,971 over the last ninety days. Corporate insiders own 12.64% of the company's stock.

Institutional Trading of GameStop

Several institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its position in shares of GameStop by 323.2% during the 1st quarter. Covestor Ltd now owns 237 shares of the company's stock worth $39,000 after buying an additional 181 shares during the last quarter. Captrust Financial Advisors raised its position in GameStop by 24.8% in the 2nd quarter. Captrust Financial Advisors now owns 1,314 shares of the company's stock valued at $161,000 after purchasing an additional 261 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in GameStop during the 1st quarter worth $50,000. Prudential Financial Inc. raised its position in GameStop by 8.5% during the 2nd quarter. Prudential Financial Inc. now owns 4,640 shares of the company's stock worth $567,000 after buying an additional 365 shares during the last quarter. Finally, FMR LLC raised its position in GameStop by 4.6% during the 2nd quarter. FMR LLC now owns 8,391 shares of the company's stock worth $1,026,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company's stock.

GameStop Stock Down 6.5 %

NYSE GME traded down $0.70 on Monday, hitting $10.07. 5,071,844 shares of the stock were exchanged, compared to its average volume of 3,855,868. The company has a quick ratio of 1.44, a current ratio of 2.11 and a debt-to-equity ratio of 0.01. GameStop has a fifty-two week low of $10.06 and a fifty-two week high of $27.65. The company has a market cap of $3.08 billion, a PE ratio of 503.75 and a beta of -0.45. The company has a 50-day moving average price of $13.57 and a 200-day moving average price of $14.38.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.22 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 company's revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. Sell-side analysts anticipate that GameStop will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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