GameSquare (NASDAQ:GAME) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

GameSquare (NASDAQ:GAME) posted its earnings results on Monday. The entertainment company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14, Zacks reports. GameSquare had a negative return on equity of 42.48% and a negative net margin of 87.56%.

GameSquare Stock Up 7.0%

Shares of NASDAQ:GAME traded up $0.03 during trading on Monday, hitting $0.39. The stock had a trading volume of 6,832,101 shares, compared to its average volume of 3,966,014. The stock has a 50-day simple moving average of $0.38 and a two-hundred day simple moving average of $0.37. The stock has a market capitalization of $39.91 million, a price-to-earnings ratio of -0.66 and a beta of 1.56. GameSquare has a 12-month low of $0.23 and a 12-month high of $1.09.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, insider & Silver Ventures Ltd. Blue acquired 144,346 shares of GameSquare stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $0.42 per share, for a total transaction of $60,625.32. Following the purchase, the insider owned 5,997,620 shares of the company’s stock, valued at approximately $2,519,000.40. This represents a 2.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of GameSquare

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake 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 buying an additional 3,339,080 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of GameSquare during the 3rd quarter valued at about $1,358,000. UBS Group AG increased its holdings in shares of GameSquare by 275,329.0% during the 3rd 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 during the last quarter. Jane Street Group LLC acquired a new stake in GameSquare during the fourth quarter worth $153,000. Finally, Geode Capital Management LLC raised its position 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 purchasing an additional 138,361 shares during the period. 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.