GameStop Corp. (NYSE:GME) Short Interest Update

GameStop Corp. (NYSE:GME - Get Free Report) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 41,950,000 shares, a decline of 6.2% from the June 15th total of 44,730,000 shares. Based on an average daily volume of 49,060,000 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analyst Weigh In

GME has been the subject of a number of recent research reports. StockNews.com raised GameStop to a "sell" rating in a report on Wednesday, July 10th. Wedbush decreased their price objective on GameStop from $13.50 to $11.00 and set an "underperform" rating for the company in a report on Wednesday, June 12th.

Insider Activity

In other news, Director Lawrence Cheng purchased 4,140 shares of the company's stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, with a total value of $102,879.00. Following the purchase, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lawrence Cheng purchased 4,140 shares of the company's stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, with a total value of $102,879.00. Following the purchase, the director now owns 69,228 shares in the company, valued at $1,720,315.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 13,471 shares of the company's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.15, for a total value of $136,730.65. Following the transaction, the general counsel now directly owns 50,837 shares in the company, valued at $515,995.55. The disclosure for this sale can be found here. Insiders have sold 24,647 shares of company stock valued at $300,183 in the last ninety days. 12.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On GameStop

Several institutional investors have recently modified their holdings of the business. AlphaMark Advisors LLC grew its holdings in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company's stock valued at $33,000 after purchasing an additional 396 shares during the period. GAMMA Investing LLC grew its holdings in GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company's stock valued at $51,000 after purchasing an additional 511 shares during the period. Treasurer of the State of North Carolina grew its holdings in GameStop by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company's stock valued at $2,082,000 after purchasing an additional 1,160 shares during the period. Swiss National Bank grew its holdings in GameStop by 0.3% during the first quarter. Swiss National Bank now owns 542,828 shares of the company's stock valued at $6,796,000 after purchasing an additional 1,400 shares during the period. Finally, CWM LLC grew its holdings in GameStop by 115.6% during the second quarter. CWM LLC now owns 2,660 shares of the company's stock valued at $66,000 after purchasing an additional 1,426 shares during the period. 29.21% of the stock is owned by institutional investors.

GameStop Stock Performance

Shares of GME stock traded down $0.56 during trading on Wednesday, hitting $27.98. The company's stock had a trading volume of 23,689,397 shares, compared to its average volume of 26,028,236. The company has a market cap of $9.83 billion, a PE ratio of 362.30 and a beta of -0.10. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $25.63 and a 200-day moving average of $17.87. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME - Get Free Report) last released its earnings results on Friday, June 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $881.80 million during the quarter, compared to the consensus estimate of $995.30 million. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The business's revenue was down 28.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) earnings per share. As a group, research analysts anticipate that GameStop will post 0.08 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.