GameSquare (NASDAQ:GAME) Stock Price Down 5.1% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GAME shares. Weiss Ratings restated a “sell (e+)” rating on shares of GameSquare in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of GameSquare from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

GameSquare Price Performance

The business has a 50 day simple moving average of $0.60 and a 200 day simple moving average of $0.82. The company has a market cap of $50.95 million, a price-to-earnings ratio of -0.50 and a beta of 0.75.

GameSquare (NASDAQ:GAME) last announced its 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 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%.

Hedge Funds Weigh In On GameSquare

A number of large investors have recently modified their holdings of the stock. Polar Asset Management Partners Inc. bought a new stake in shares of GameSquare during the third quarter valued at approximately $1,358,000. B Group Inc. acquired a new position in GameSquare during the 3rd quarter worth $170,000. UBS Group AG boosted its position 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 valued at $1,133,000 after buying an additional 1,668,494 shares during the last quarter. Vanguard Group Inc. boosted its position in GameSquare by 353.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,282,748 shares of the entertainment company’s stock valued at $2,908,000 after buying an additional 3,339,080 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of GameSquare in the 2nd quarter valued at $38,000. 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.