GameSquare Holdings, Inc. (NASDAQ:GAME) Short Interest Down 82.6% in August

GameSquare Holdings, Inc. (NASDAQ:GAME) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,055,912 shares, a decline of 82.6% from the August 15th total of 6,063,577 shares. Based on an average daily trading volume, of 289,097 shares, the short-interest ratio is currently 3.7 days. Approximately 8.7% of the company’s stock are short sold.

GameSquare Stock Performance

Shares of GAME stock traded up $0.21 during mid-day trading on Friday, reaching $3.68. 233,347 shares of the company were exchanged, compared to its average volume of 237,660. The business’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $3.05. The company has a market capitalization of $47.03 million, a P/E ratio of -0.74 and a beta of 1.56. GameSquare has a fifty-two week low of $1.88 and a fifty-two week high of $6.88.

GameSquare (NASDAQ:GAME) last posted its quarterly earnings results on Monday, August 10th. The entertainment company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $18.48 million during the quarter. GameSquare had a negative net margin of 96.06% and a positive return on equity of 7.97%. On average, analysts forecast that GameSquare will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

GAME has been the subject of a number of analyst reports. ThinkEquity initiated coverage on shares of GameSquare in a research report on Monday, June 8th. They issued a “buy” rating for the company. Weiss Ratings lowered GameSquare from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Zacks Research upgraded GameSquare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen raised GameSquare to a “hold” rating in a report on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On GameSquare

Several large investors have recently modified their holdings of GAME. XTX Topco Ltd acquired a new position in GameSquare in the second quarter worth about $38,000. Virtu Financial LLC raised its stake in GameSquare by 167.6% during the fourth quarter. Virtu Financial LLC now owns 200,255 shares of the entertainment company’s stock valued at $77,000 after buying an additional 125,428 shares in the last quarter. Jane Street Group LLC acquired a new stake in GameSquare during the fourth quarter valued at approximately $153,000. Renaissance Technologies LLC lifted its holdings in GameSquare by 6.4% during the 1st quarter. Renaissance Technologies LLC now owns 605,300 shares of the entertainment company’s stock worth $163,000 after buying an additional 36,200 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in GameSquare by 23.9% during the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock worth $186,000 after buying an additional 41,196 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

GameSquare Company Profile

GameSquare Inc (NASDAQ: GAME) is a digital media and marketing company focused on the global gaming and esports industries. The company operates a network of online properties and community platforms that deliver editorial content, live event coverage, and video programming to enthusiasts and consumers. GameSquare’s offerings span both traditional gaming titles and competitive esports leagues, enabling advertisers and brand partners to engage with a diverse and highly engaged audience.

Through its flagship Enthusiast Gaming network, GameSquare oversees a portfolio of more than 35 websites and digital channels, including long-standing properties such as Destructoid, The Escapist and Daily Esports.