GameSquare (NASDAQ:GAME) Trading 8.8% Higher – Here’s What Happened

Shares of GameSquare Holdings, Inc. (NASDAQ:GAME) rose 8.8% on Tuesday . The stock traded as high as $0.4335 and last traded at $0.4217. 1,147,003 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 844,836 shares. The stock had previously closed at $0.3877.

Analyst Ratings Changes

Several brokerages have issued reports on GAME. ThinkEquity initiated coverage on shares of GameSquare in a research report on Monday, June 8th. They set a “buy” rating for the company. Wall Street Zen upgraded shares of GameSquare to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings raised GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Finally, Zacks Research raised GameSquare from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.

GameSquare Trading Up 8.8%

The company has a market cap of $43.45 million, a P/E ratio of -0.71 and a beta of 1.51. The company’s fifty day moving average is $0.40 and its 200 day moving average is $0.38.

Insider Activity at GameSquare

In related news, insider & Silver Ventures Ltd. Blue acquired 922,890 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average price of $0.60 per share, for a total transaction of $553,734.00. Following the completion of the acquisition, the insider owned 3,359,371 shares in the company, valued at approximately $2,015,622.60. This represents a 37.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders bought a total of 2,189,701 shares of company stock valued at $1,182,421 in the last quarter. 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. Renaissance Technologies LLC lifted its position in GameSquare by 6.4% in the first quarter. Renaissance Technologies LLC now owns 605,300 shares of the entertainment company’s stock valued at $163,000 after purchasing an additional 36,200 shares during the last quarter. XTX Topco Ltd increased its stake in shares of GameSquare by 47.3% in the fourth quarter. XTX Topco Ltd now owns 166,692 shares of the entertainment company’s stock worth $64,000 after buying an additional 53,489 shares during the period. Geode Capital Management LLC raised its holdings in 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 during the last quarter. UBS Group AG boosted its position in GameSquare by 275,329.0% during 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 period. Finally, Vanguard Group Inc. grew its holdings in GameSquare by 353.8% in the 3rd 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. 64.25% of the stock is currently owned by institutional investors.

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.