GameSquare Holdings, Inc. (NASDAQ:GAME) Sees Significant Decline in Short Interest

GameSquare Holdings, Inc. (NASDAQ:GAME) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 2,647,513 shares, a decrease of 27.8% from the March 15th total of 3,666,384 shares. Based on an average daily trading volume, of 731,406 shares, the days-to-cover ratio is currently 3.6 days. Approximately 2.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GAME shares. Zacks Research downgraded shares of GameSquare from a “hold” rating to a “strong sell” rating in a report on Friday, April 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GameSquare in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of GameSquare during the 2nd quarter valued at approximately $38,000. Virtu Financial LLC lifted its position in shares of GameSquare by 167.6% during the 4th 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 purchased a new position in shares of GameSquare during the 4th quarter valued at approximately $153,000. B Group Inc. purchased a new position in shares of GameSquare during the 3rd quarter valued at approximately $170,000. Finally, Geode Capital Management LLC lifted its position in shares of GameSquare by 23.9% during the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock valued at $186,000 after buying an additional 41,196 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

GameSquare Stock Up 3.6%

Shares of NASDAQ GAME traded up $0.01 during midday trading on Thursday, reaching $0.42. 7,533,931 shares of the stock were exchanged, compared to its average volume of 18,011,222. The firm has a market cap of $40.08 million, a price-to-earnings ratio of -0.76 and a beta of 0.82. GameSquare has a twelve month low of $0.24 and a twelve month high of $2.87. The firm has a 50-day simple moving average of $0.30 and a two-hundred day simple moving average of $0.45.

GameSquare (NASDAQ:GAME) last issued its quarterly earnings data on Wednesday, April 8th. The entertainment company reported ($0.04) EPS for the quarter. The firm had revenue of $18.46 million for the quarter. GameSquare had a negative return on equity of 54.32% and a negative net margin of 60.09%.

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.