GameSquare Holdings, Inc. (NASDAQ:GAME) Sees Large Decrease in Short Interest

GameSquare Holdings, Inc. (NASDAQ:GAME) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 4,029,642 shares, a decline of 25.5% from the December 15th total of 5,411,531 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily trading volume, of 1,464,345 shares, the short-interest ratio is currently 2.8 days. Based on an average daily trading volume, of 1,464,345 shares, the short-interest ratio is currently 2.8 days. Currently, 4.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in GameSquare in the second quarter worth $38,000. United Capital Management of KS Inc. lifted its holdings in shares of GameSquare by 70.4% during the 2nd quarter. United Capital Management of KS Inc. now owns 93,696 shares of the entertainment company’s stock worth $77,000 after acquiring an additional 38,696 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of GameSquare during the 2nd quarter valued at about $108,000. B Group Inc. bought a new stake in GameSquare in the third quarter valued at about $170,000. Finally, Geode Capital Management LLC raised its position in GameSquare by 23.9% in the second quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock worth $186,000 after purchasing an additional 41,196 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

GameSquare Trading Down 1.0%

NASDAQ GAME traded down $0.00 during trading on Monday, reaching $0.44. The company’s stock had a trading volume of 351,399 shares, compared to its average volume of 1,181,386. The stock has a market capitalization of $43.40 million, a PE ratio of -0.42 and a beta of 0.77. GameSquare has a 1-year low of $0.37 and a 1-year high of $2.87. The business has a 50-day moving average price of $0.48 and a 200-day moving average price of $0.75.

GameSquare (NASDAQ:GAME) last released its quarterly earnings results on Thursday, November 13th. The entertainment company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $11.31 million for the quarter, compared to the consensus estimate of $26.80 million. GameSquare had a negative net margin of 49.30% and a negative return on equity of 168.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GAME. Weiss Ratings reiterated a “sell (e+)” rating on shares of GameSquare in a report on Wednesday, October 8th. Wall Street Zen lowered shares of GameSquare from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.