GameSquare (NASDAQ:GAME) Trading Up 8.8% – Time to Buy?

GameSquare Holdings, Inc. (NASDAQ:GAME) shares rose 8.8% on Tuesday . The stock traded as high as $0.4335 and last traded at $0.4217. 1,147,003 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 844,836 shares. The stock had previously closed at $0.3877.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zacks Research upgraded 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 report on Thursday, July 9th. ThinkEquity began coverage on GameSquare in a research report on Monday, June 8th. They set a “buy” rating on the stock. Finally, Wall Street Zen raised GameSquare to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

GameSquare Trading Down 9.8%

The company has a market cap of $38.65 million, a P/E ratio of -0.64 and a beta of 1.51. The business’s 50 day simple moving average is $0.40 and its 200 day simple moving average is $0.38.

Insider Activity at GameSquare

In other news, insider & Silver Ventures Ltd. Blue acquired 144,346 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average cost of $0.42 per share, for a total transaction of $60,625.32. Following the transaction, the insider directly owned 5,997,620 shares of the company’s stock, valued at approximately $2,519,000.40. This trade represents a 2.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 1,266,811 shares of company stock worth $628,687. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On GameSquare

A number of institutional investors and hedge funds have recently bought and sold shares of GAME. Vanguard Group Inc. lifted its position in shares of GameSquare by 353.8% in the third 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. Polar Asset Management Partners Inc. purchased a new stake in shares of GameSquare during the third quarter worth about $1,358,000. UBS Group AG raised its stake in GameSquare by 275,329.0% during the 3rd 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 during the period. Geode Capital Management LLC raised 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 valued at $374,000 after purchasing an additional 138,361 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in GameSquare by 6.4% in the 1st quarter. Renaissance Technologies LLC now owns 605,300 shares of the entertainment company’s stock worth $163,000 after purchasing an additional 36,200 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

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.