GameStop Corp. (GME) Short Interest Up 20.1% in November
GameStop Corp. (NYSE:GME) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 37,574,556 shares, a growth of 20.1% from the November 15th total of 31,286,422 shares. Approximately 37.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,104,818 shares, the short-interest ratio is presently 5.3 days.
GameStop (NYSE:GME) opened at $18.34 on Friday. The firm has a market capitalization of $1,850.00, a PE ratio of 4.97, a PEG ratio of 0.37 and a beta of 1.26. The company has a current ratio of 1.20, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35. GameStop has a 12-month low of $15.85 and a 12-month high of $26.68.
GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.11. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. GameStop had a return on equity of 16.50% and a net margin of 3.98%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. sell-side analysts forecast that GameStop will post 3.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.29%. GameStop’s payout ratio is 44.44%.
A number of equities research analysts have issued reports on GME shares. Oppenheimer reiterated a “hold” rating on shares of GameStop in a research note on Wednesday, November 22nd. Loop Capital reiterated a “buy” rating and issued a $28.00 price target on shares of GameStop in a research note on Wednesday, November 22nd. Benchmark reiterated a “sell” rating and issued a $15.00 price target (down previously from $18.00) on shares of GameStop in a research note on Wednesday, November 22nd. ValuEngine upgraded GameStop from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Bank of America reiterated a “hold” rating and issued a $23.00 price target on shares of GameStop in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.47.
In other GameStop news, Director Stephanie M. Shern sold 4,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $17.91, for a total value of $71,640.00. Following the completion of the sale, the director now owns 13,474 shares in the company, valued at approximately $241,319.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.
Several institutional investors have recently modified their holdings of GME. Russell Investments Group Ltd. grew its position in shares of GameStop by 95.1% during the second quarter. Russell Investments Group Ltd. now owns 65,109 shares of the company’s stock valued at $1,410,000 after purchasing an additional 31,734 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of GameStop by 3.9% during the second quarter. Great West Life Assurance Co. Can now owns 61,384 shares of the company’s stock valued at $1,325,000 after purchasing an additional 2,285 shares in the last quarter. Sei Investments Co. grew its position in shares of GameStop by 22.4% during the second quarter. Sei Investments Co. now owns 9,431 shares of the company’s stock valued at $204,000 after purchasing an additional 1,725 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of GameStop by 37.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 471,600 shares of the company’s stock valued at $10,191,000 after acquiring an additional 129,500 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of GameStop by 9.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 623,208 shares of the company’s stock valued at $13,468,000 after acquiring an additional 52,419 shares during the last quarter.
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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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