Zacks Research Upgrades GameSquare (NASDAQ:GAME) to “Strong-Buy”

GameSquare (NASDAQ:GAME) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. ThinkEquity started coverage on shares of GameSquare in a research note on Monday, June 8th. They issued a “buy” rating on the stock. Wall Street Zen raised shares of GameSquare to a “hold” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings upgraded GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GameSquare presently has an average rating of “Moderate Buy”.

GameSquare Trading Up 9.5%

Shares of GAME opened at $0.41 on Thursday. The firm has a fifty day moving average price of $0.38 and a 200-day moving average price of $0.37. The firm has a market capitalization of $42.66 million, a P/E ratio of -0.67 and a beta of 1.56. GameSquare has a 12-month low of $0.23 and a 12-month high of $0.94.

GameSquare (NASDAQ:GAME) last posted its quarterly earnings results on Monday, August 10th. The entertainment company reported ($0.11) EPS for the quarter. GameSquare had a positive return on equity of 6.47% and a negative net margin of 96.06%.The company had revenue of $18.48 million during the quarter. Analysts predict that GameSquare will post 0.08 earnings per share for the current year.

Insider Activity at GameSquare

In other news, insider & Silver Ventures Ltd. Blue acquired 620,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $0.43 per share, for a total transaction of $266,643.00. Following the completion of the acquisition, the insider directly owned 5,853,274 shares of the company’s stock, valued at $2,516,907.82. The trade was a 11.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in GameSquare by 6.4% during the 1st quarter. Renaissance Technologies LLC now owns 605,300 shares of the entertainment company’s stock valued at $163,000 after purchasing an additional 36,200 shares during the period. Geode Capital Management LLC lifted its position in shares of GameSquare by 23.9% in the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock worth $186,000 after purchasing an additional 41,196 shares during the period. XTX Topco Ltd purchased a new stake in shares of GameSquare in the 2nd quarter worth approximately $38,000. Virtu Financial LLC boosted its stake in shares of 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 purchasing an additional 125,428 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of GameSquare during the fourth quarter valued at approximately $153,000. 64.25% of the stock is currently owned by institutional investors.

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.