GameSquare Shares to Reverse Split on Monday, August 24th (NASDAQ:GAME)

GameSquare Holdings, Inc. (NASDAQ:GAME)’s stock is going to reverse split on the morning of Monday, August 24th. The 1-8 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 23rd.

GameSquare Stock Performance

Shares of NASDAQ:GAME traded up $0.02 during midday trading on Thursday, reaching $0.44. 2,589,165 shares of the company’s stock were exchanged, compared to its average volume of 1,351,545. The firm has a market capitalization of $45.35 million, a PE ratio of 20.78 and a beta of 1.56. The company’s 50 day simple moving average is $0.38 and its two-hundred day simple moving average is $0.37. GameSquare has a 12 month low of $0.23 and a 12 month high of $0.94.

GameSquare (NASDAQ:GAME) last released its quarterly earnings data on Monday, August 10th. The entertainment company reported ($0.11) earnings per share for the quarter. GameSquare had a negative net margin of 96.06% and a positive return on equity of 7.97%. The company had revenue of $18.48 million during the quarter. On average, research analysts anticipate that GameSquare will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

GAME has been the subject of several recent analyst reports. Weiss Ratings upgraded GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Zacks Research upgraded shares of GameSquare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. ThinkEquity began coverage on shares of GameSquare in a report on Monday, June 8th. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of GameSquare to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Insider Transactions at GameSquare

In other GameSquare news, insider & Silver Ventures Ltd. Blue acquired 620,100 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $0.43 per share, for a total transaction of $266,643.00. Following the transaction, the insider owned 5,853,274 shares in the company, valued at $2,516,907.82. This trade represents a 11.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Trading of GameSquare

A number of hedge funds and other institutional investors have recently made changes to their positions in GAME. Geode Capital Management LLC lifted its position 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 in the last quarter. XTX Topco Ltd acquired a new stake in GameSquare in the 2nd quarter valued at about $38,000. Vanguard Group Inc. increased its position in GameSquare by 353.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,282,748 shares of the entertainment company’s stock valued at $2,908,000 after acquiring an additional 3,339,080 shares in the last quarter. UBS Group AG raised its stake in shares of GameSquare by 275,329.0% in the third quarter. UBS Group AG now owns 1,669,100 shares of the entertainment company’s stock worth $1,133,000 after acquiring an additional 1,668,494 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in shares of GameSquare in the third quarter worth about $1,358,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.