Short Interest in GameStop Corp. (GME) Increases By 20.1%

GameStop Corp. (NYSE:GME) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 37,574,556 shares, an increase of 20.1% from the November 15th total of 31,286,422 shares. Approximately 37.9% of the shares of the company are short sold. Based on an average daily volume of 7,104,818 shares, the days-to-cover ratio is presently 5.3 days.

In other news, Director Stephanie M. Shern sold 4,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $17.91, for a total transaction of $71,640.00. Following the completion of the sale, the director now directly owns 13,474 shares of the company’s stock, valued at approximately $241,319.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of GME. Macquarie Group Ltd. bought a new position in GameStop in the 3rd quarter worth about $112,000. BlueMountain Capital Management LLC bought a new stake in shares of GameStop during the 2nd quarter valued at about $162,000. JBF Capital Inc. boosted its position in shares of GameStop by 119.8% during the 2nd quarter. JBF Capital Inc. now owns 9,120 shares of the company’s stock valued at $197,000 after acquiring an additional 4,971 shares during the last quarter. Sei Investments Co. boosted its position in shares of GameStop by 22.4% during the 2nd quarter. Sei Investments Co. now owns 9,431 shares of the company’s stock valued at $204,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Carret Asset Management LLC boosted its position in shares of GameStop by 12.2% during the 2nd quarter. Carret Asset Management LLC now owns 10,140 shares of the company’s stock valued at $219,000 after acquiring an additional 1,100 shares during the last quarter.

GameStop (NYSE:GME) opened at $18.45 on Friday. GameStop has a 12 month low of $15.85 and a 12 month high of $26.68. The company has a quick ratio of 0.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1,862.99, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.37 and a beta of 1.26.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, November 21st. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.43 by $0.11. GameStop had a return on equity of 16.50% and a net margin of 3.98%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company earned $0.49 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. equities analysts expect that GameStop will post 3.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.52 annualized dividend and a yield of 8.24%. GameStop’s dividend payout ratio is currently 44.31%.

GME has been the subject of several research reports. Zacks Investment Research upgraded GameStop from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, October 25th. SunTrust Banks reiterated a “buy” rating and set a $25.00 price target on shares of GameStop in a research note on Tuesday, October 17th. ValuEngine upgraded GameStop from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Robert W. Baird reiterated a “buy” rating and set a $24.00 price target on shares of GameStop in a research note on Tuesday, September 26th. Finally, Wedbush set a $25.00 price target on GameStop and gave the stock a “buy” rating in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.47.

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About GameStop

GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.

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