HighTower Trust Services LTA purchased a new position in shares of GameStop Corp. (NYSE:GME – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,727 shares of the company's stock, valued at approximately $365,000.

Several other institutional investors also recently modified their holdings of GME. Arkadios Wealth Advisors acquired a new position in GameStop during the second quarter valued at approximately $297,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of GameStop by 5.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,429 shares of the company's stock valued at $297,000 after buying an additional 134 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of GameStop by 2.1% in the second quarter. State of Alaska Department of Revenue now owns 8,883 shares of the company's stock valued at $1,086,000 after buying an additional 180 shares during the period. Kestra Private Wealth Services LLC acquired a new position in shares of GameStop in the first quarter valued at approximately $246,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of GameStop in the first quarter valued at approximately $288,000. Institutional investors and hedge funds own 9.57% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GME. Wedbush reduced their price target on shares of GameStop from $30.00 to $7.50 and set an "underperform" rating for the company in a report on Friday, July 22nd. StockNews.com raised shares of GameStop to a "sell" rating in a research report on Friday, September 9th.

GameStop Trading Down 4.4 %

GameStop (NYSE:GME – Get Rating) last released its quarterly earnings results on Wednesday, September 7th. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.38) by $0.03. GameStop had a negative net margin of 8.57% and a negative return on equity of 33.28%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned ($0.19) earnings per share. The firm's quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts predict that GameStop Corp. will post -1.45 earnings per share for the current year.

GameStop Company Profile

(Get Rating)

GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.

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