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

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

Analyst Upgrades and Downgrades

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

GameSquare Stock Up 9.5%

Shares of NASDAQ:GAME traded up $0.33 on Friday, reaching $3.80. 161,399 shares of the company’s stock were exchanged, compared to its average volume of 464,409. The firm has a market capitalization of $48.56 million, a price-to-earnings ratio of -0.77 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. The business’s 50-day moving average is $3.03 and its two-hundred day moving average is $3.05.

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. GameSquare had a positive return on equity of 7.97% and a negative net margin of 96.06%.The business had revenue of $18.48 million during the quarter. Analysts predict that GameSquare will post 0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GameSquare

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of GameSquare by 353.8% during the third quarter. Vanguard Group Inc. now owns 4,282,748 shares of the entertainment company’s stock valued at $2,908,000 after purchasing an additional 3,339,080 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of GameSquare during the 3rd quarter worth approximately $1,358,000. UBS Group AG lifted its holdings in shares of GameSquare by 275,329.0% in the 3rd quarter. UBS Group AG now owns 1,669,100 shares of the entertainment company’s stock worth $1,133,000 after purchasing an additional 1,668,494 shares during the last quarter. BlackRock Inc. acquired a new position in GameSquare during the 2nd quarter valued at approximately $413,000. Finally, Geode Capital Management LLC grew its stake in GameSquare by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 970,853 shares of the entertainment company’s stock worth $374,000 after buying an additional 138,361 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

About GameSquare

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.