GameSquare (NASDAQ:GAME) Shares Down 1.6% – What’s Next?

GameSquare Holdings, Inc. (NASDAQ:GAME)’s share price dropped 1.6% during trading on Monday . The company traded as low as $0.2972 and last traded at $0.3067. Approximately 562,506 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,071,954 shares. The stock had previously closed at $0.3117.

Analysts Set New Price Targets

GAME has been the subject of several recent research reports. Wall Street Zen lowered GameSquare from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GameSquare in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GameSquare presently has a consensus rating of “Sell”.

GameSquare Trading Down 1.6%

The stock has a 50 day simple moving average of $0.44 and a 200-day simple moving average of $0.62. The firm has a market cap of $30.17 million, a PE ratio of -0.29 and a beta of 0.77.

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

Institutional Investors Weigh In On GameSquare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 during the last quarter. Polar Asset Management Partners Inc. bought a new stake in GameSquare in the 3rd quarter valued at $1,358,000. UBS Group AG lifted its stake in GameSquare by 275,329.0% in the 3rd quarter. UBS Group AG now owns 1,669,100 shares of the entertainment company’s stock worth $1,133,000 after purchasing an additional 1,668,494 shares in the last quarter. B Group Inc. bought a new position in shares of GameSquare during the 3rd quarter valued at about $170,000. Finally, Geode Capital Management LLC grew its position in shares of GameSquare by 16.6% during the fourth 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 in the last quarter. Institutional investors own 64.25% of the company’s stock.

GameSquare Company Profile

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.