GameSquare (NASDAQ:GAME) Stock Price Down 5.1% – Here’s Why

Shares of GameSquare Holdings, Inc. (NASDAQ:GAME) traded down 5.1% during trading on Friday . The company traded as low as $0.5141 and last traded at $0.5179. 869,644 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 1,562,527 shares. The stock had previously closed at $0.5455.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GAME shares. Wall Street Zen downgraded shares of GameSquare from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of GameSquare in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

GameSquare Price Performance

The stock has a market cap of $50.95 million, a price-to-earnings ratio of -0.50 and a beta of 0.75. The firm has a 50 day simple moving average of $0.60 and a two-hundred day simple moving average of $0.82.

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

Institutional Investors Weigh In On GameSquare

Several hedge funds have recently bought and sold shares of GAME. United Capital Management of KS Inc. boosted its position in shares of GameSquare by 57.1% during the first quarter. United Capital Management of KS Inc. now owns 55,000 shares of the entertainment company’s stock worth $33,000 after purchasing an additional 20,000 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of GameSquare in the 2nd quarter valued at $108,000. Geode Capital Management LLC raised its stake in GameSquare by 23.9% during the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock worth $186,000 after buying an additional 41,196 shares during the period. XTX Topco Ltd acquired a new stake in GameSquare during the 2nd quarter worth $38,000. Finally, Vanguard Group Inc. lifted its holdings in GameSquare by 353.8% during the third quarter. Vanguard Group Inc. now owns 4,282,748 shares of the entertainment company’s stock worth $2,908,000 after acquiring an additional 3,339,080 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

About GameSquare

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.