GameSquare (NASDAQ:GAME) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of GameSquare (NASDAQ:GAME) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. ThinkEquity initiated coverage on shares of GameSquare in a research report on Monday, June 8th. They set a “buy” rating on the stock. Wall Street Zen raised shares of GameSquare to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings upgraded shares of GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. One investment 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 stock has an average rating of “Moderate Buy”.

GameSquare Stock Performance

Shares of NASDAQ:GAME opened at $0.41 on Thursday. The firm has a market cap of $42.66 million, a price-to-earnings ratio of -0.67 and a beta of 1.56. The business has a 50-day simple moving average of $0.38 and a two-hundred day simple moving average of $0.37. GameSquare has a fifty-two week low of $0.23 and a fifty-two week high of $0.94.

GameSquare (NASDAQ:GAME) last announced its quarterly earnings results on Monday, August 10th. The entertainment company reported ($0.11) earnings per share (EPS) for the quarter. GameSquare had a negative net margin of 96.06% and a positive return on equity of 6.47%. The company had revenue of $18.48 million for the quarter. As a group, research analysts predict that GameSquare will post 0.08 earnings per share for the current year.

Insider Activity

In other GameSquare news, insider & Silver Ventures Ltd. Blue acquired 144,346 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of $0.42 per share, with a total value of $60,625.32. Following the transaction, the insider directly owned 5,997,620 shares in the company, valued at approximately $2,519,000.40. The trade was a 2.47% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GameSquare

Several institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in GameSquare in the second quarter worth about $38,000. Virtu Financial LLC raised its stake in shares of GameSquare by 167.6% in the fourth quarter. Virtu Financial LLC now owns 200,255 shares of the entertainment company’s stock worth $77,000 after buying an additional 125,428 shares during the period. Geode Capital Management LLC lifted its position in shares of GameSquare by 23.9% during the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock valued at $186,000 after buying an additional 41,196 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of GameSquare during the 4th quarter valued at about $153,000. Finally, Renaissance Technologies LLC grew its stake in shares of GameSquare by 6.4% during the 1st quarter. Renaissance Technologies LLC now owns 605,300 shares of the entertainment company’s stock valued at $163,000 after acquiring an additional 36,200 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.