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

GameStop Corp. (NYSE:GME - Get Free Report) saw a significant drop in short interest in the month of 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 daily volume of 10,750,000 shares, the days-to-cover ratio is presently 2.8 days.

GameStop Stock Down 2.3 %

Shares of GME traded down $0.63 during mid-day trading on Friday, hitting $26.41. The stock had a trading volume of 6,100,398 shares, compared to its average volume of 6,508,290. The company has a market cap of $11.80 billion, a PE ratio of 146.71 and a beta of -0.11. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The company's fifty day simple moving average is $28.80 and its two-hundred day simple moving average is $25.29.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09. The business had revenue of $860.30 million during the quarter, compared to analyst estimates of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company's quarterly revenue was down 20.2% compared to the same quarter last year. Equities analysts expect that GameStop will post 0.08 earnings per share for the current year.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. The trade was 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 Inflows and Outflows

Several large investors have recently bought and sold shares of GME. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after purchasing an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of GameStop in the 4th quarter valued at approximately $37,000. R Squared Ltd acquired a new position in GameStop in the fourth quarter worth approximately $51,000. Bessemer Group Inc. lifted its stake in GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company's stock valued at $54,000 after acquiring an additional 691 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock valued at $57,000 after acquiring an additional 682 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated an "underperform" rating and set a $10.00 price objective on shares of GameStop in a 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.