GameSquare (NASDAQ:GAME) Issues Quarterly Earnings Results, Meets Expectations

GameSquare (NASDAQ:GAME) posted its quarterly earnings results on Thursday. The entertainment company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03), Zacks reports. The company had revenue of $11.31 million for the quarter, compared to analyst estimates of $26.80 million. GameSquare had a negative net margin of 46.12% and a negative return on equity of 275.13%.

GameSquare Stock Performance

Shares of NASDAQ:GAME traded down $0.06 during mid-day trading on Friday, reaching $0.45. 3,906,019 shares of the company traded hands, compared to its average volume of 3,724,341. The firm has a market cap of $44.33 million, a PE ratio of -0.37 and a beta of 0.74. GameSquare has a 52 week low of $0.44 and a 52 week high of $2.87. The company’s 50 day moving average price is $0.69 and its 200-day moving average price is $0.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.43 and a quick ratio of 0.43.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GameSquare in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in shares of GameSquare during the 2nd quarter valued at $38,000. Geode Capital Management LLC lifted its position in shares of GameSquare by 23.9% during the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock valued at $186,000 after acquiring an additional 41,196 shares during the last quarter. UBS Group AG grew its position 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 valued at $1,133,000 after purchasing an additional 1,668,494 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of GameSquare in the third quarter worth about $1,358,000. Finally, Vanguard Group Inc. raised its holdings 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. Hedge funds and other institutional investors own 64.25% of the company’s stock.

GameSquare Company Profile

GameSquare Holdings, Inc operates as a vertically integrated digital media, entertainment, and technology company. Its platform to connect with gaming and youth culture audiences. The company’s end-to-end platform includes Code Red Esports Ltd., an esports talent agency; GCN, a digital media company focusing on the gaming and esports audience; Zoned, a gaming and lifestyle marketing agency; Complexity Gaming, a esports organization operating; Fourth Frame Studios, a creative production studio; and Mission Supply, a merchandise and consumer products business; Frankly Media, programmatic advertising, Stream Hatchet, live streaming analytics, and Sideqik a social influencer marketing platform.