GameSquare Holdings, Inc. (NASDAQ:GAME) Sees Significant Drop in Short Interest

GameSquare Holdings, Inc. (NASDAQ:GAME) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 2,647,513 shares, a drop of 27.8% from the March 15th total of 3,666,384 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average trading volume of 731,406 shares, the short-interest ratio is presently 3.6 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in GameSquare during the second quarter valued at approximately $38,000. Virtu Financial LLC raised its position in GameSquare by 167.6% during the fourth quarter. Virtu Financial LLC now owns 200,255 shares of the entertainment company’s stock valued at $77,000 after purchasing an additional 125,428 shares in the last quarter. Geode Capital Management LLC raised its position in GameSquare by 23.9% during the second quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock valued at $186,000 after purchasing an additional 41,196 shares in the last quarter. B Group Inc. acquired a new position in GameSquare during the third quarter valued at approximately $170,000. Finally, Jane Street Group LLC bought a new stake in shares of GameSquare during the fourth quarter worth $153,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of GameSquare from a “hold” rating to a “strong sell” rating in a research report on Friday, April 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GameSquare in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

GameSquare Trading Up 3.6%

NASDAQ GAME opened at $0.42 on Friday. GameSquare has a 1-year low of $0.24 and a 1-year high of $2.87. The company has a market cap of $40.08 million, a price-to-earnings ratio of -0.76 and a beta of 0.82. The company has a 50 day moving average of $0.30 and a 200-day moving average of $0.45.

GameSquare (NASDAQ:GAME) last announced its quarterly earnings data on Wednesday, April 8th. The entertainment company reported ($0.04) EPS for the quarter. GameSquare had a negative net margin of 60.09% and a negative return on equity of 54.32%. The firm had revenue of $18.46 million for the quarter.

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.