Short Interest in GameSquare Holdings, Inc. (NASDAQ:GAME) Declines By 82.6%

GameSquare Holdings, Inc. (NASDAQ:GAME) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 1,055,912 shares, a decline of 82.6% from the August 15th total of 6,063,577 shares. Currently, 8.7% of the company’s stock are sold short. Based on an average trading volume of 289,097 shares, the days-to-cover ratio is currently 3.7 days.

Analysts Set New Price Targets

A number of brokerages have commented on GAME. Zacks Research upgraded GameSquare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Weiss Ratings lowered GameSquare from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. ThinkEquity started coverage on GameSquare in a research report on Monday, June 8th. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded GameSquare to a “hold” rating in a report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

GameSquare Trading Up 9.5%

GAME stock traded up $0.33 during trading on Friday, reaching $3.80. The stock had a trading volume of 161,399 shares, compared to its average volume of 464,409. The firm has a fifty day moving average price of $3.03 and a 200 day moving average price of $3.05. The company has a market capitalization of $48.56 million, a P/E ratio of -0.77 and a beta of 1.56. GameSquare has a 1-year low of $1.88 and a 1-year high of $6.88.

GameSquare (NASDAQ:GAME) last announced its earnings results on Monday, August 10th. The entertainment company reported ($0.11) earnings per share for the quarter. GameSquare had a negative net margin of 96.06% and a positive return on equity of 7.97%. The business had revenue of $18.48 million for the quarter. Sell-side analysts predict that GameSquare will post 0.64 EPS for the current year.

Hedge Funds Weigh In On GameSquare

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of GameSquare during the 2nd quarter valued at approximately $413,000. Renaissance Technologies LLC increased its stake in shares of GameSquare by 6.4% in the first quarter. Renaissance Technologies LLC now owns 605,300 shares of the entertainment company’s stock worth $163,000 after buying an additional 36,200 shares during the last quarter. Virtu Financial LLC raised its holdings in GameSquare by 167.6% in the fourth quarter. Virtu Financial LLC now owns 200,255 shares of the entertainment company’s stock valued at $77,000 after acquiring an additional 125,428 shares in the last quarter. XTX Topco Ltd raised its holdings in GameSquare by 47.3% in the fourth quarter. XTX Topco Ltd now owns 166,692 shares of the entertainment company’s stock valued at $64,000 after acquiring an additional 53,489 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in GameSquare during the 4th quarter valued at $153,000. 64.25% of the stock is owned by institutional investors and hedge funds.

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.