GameSquare Holdings, Inc. (NASDAQ:GAME) Sees Large Increase in Short Interest

GameSquare Holdings, Inc. (NASDAQ:GAME) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 7,963,730 shares, an increase of 131.1% from the June 30th total of 3,445,514 shares. Approximately 8.3% of the company’s shares are sold short. Based on an average daily trading volume, of 949,622 shares, the days-to-cover ratio is currently 8.4 days.

GameSquare Stock Down 1.0%

Shares of NASDAQ:GAME traded down $0.00 during midday trading on Tuesday, reaching $0.36. The company’s stock had a trading volume of 40,853 shares, compared to its average volume of 4,146,825. The stock has a fifty day moving average of $0.39 and a 200 day moving average of $0.38. GameSquare has a twelve month low of $0.23 and a twelve month high of $1.10. The firm has a market capitalization of $37.09 million, a PE ratio of -0.61 and a beta of 1.51.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GAME shares. Weiss Ratings raised shares of GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. Wall Street Zen raised GameSquare to a “hold” rating in a research report on Saturday, April 25th. Zacks Research raised GameSquare from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, ThinkEquity began coverage on GameSquare in a research note on Monday, June 8th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Insider Buying and Selling

In other GameSquare news, insider & Silver Ventures Ltd. Blue bought 620,100 shares of GameSquare stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $0.43 per share, for a total transaction of $266,643.00. Following the completion of the purchase, the insider directly owned 5,853,274 shares in the company, valued at approximately $2,516,907.82. This trade represents a 11.85% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On GameSquare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 3,339,080 shares during the period. Polar Asset Management Partners Inc. purchased a new position in shares of GameSquare during the 3rd quarter valued at approximately $1,358,000. UBS Group AG boosted its holdings in GameSquare by 275,329.0% during the third quarter. UBS Group AG now owns 1,669,100 shares of the entertainment company’s stock worth $1,133,000 after buying an additional 1,668,494 shares in the last quarter. Jane Street Group LLC acquired a new stake in GameSquare during the fourth quarter valued at $153,000. Finally, Geode Capital Management LLC increased its holdings in GameSquare by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 970,853 shares of the entertainment company’s stock valued at $374,000 after buying an additional 138,361 shares in the last quarter. 64.25% of the stock is 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.