GameSquare (NASDAQ:GAME) Issues Earnings Results, Beats Expectations By $0.14 EPS

GameSquare (NASDAQ:GAME) posted its quarterly earnings results on Monday. The entertainment company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.14, Zacks reports. GameSquare had a negative return on equity of 42.48% and a negative net margin of 87.56%.

GameSquare Price Performance

Shares of GAME stock traded up $0.03 on Monday, hitting $0.39. 6,628,293 shares of the company’s stock were exchanged, compared to its average volume of 3,944,487. The company has a 50 day moving average of $0.38 and a 200 day moving average of $0.37. The stock has a market cap of $39.91 million, a P/E ratio of -0.66 and a beta of 1.56. GameSquare has a 12 month low of $0.23 and a 12 month high of $1.09.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider & Silver Ventures Ltd. Blue bought 620,100 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $0.43 per share, with a total value of $266,643.00. Following the completion of the acquisition, the insider owned 5,853,274 shares of the company’s stock, valued at $2,516,907.82. The trade was a 11.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Trading of GameSquare

A number of hedge funds and other institutional investors have recently modified their holdings of GAME. Polar Asset Management Partners Inc. acquired a new position in GameSquare in the 3rd quarter worth about $1,358,000. UBS Group AG increased its stake in shares of GameSquare by 275,329.0% in the third 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. Vanguard Group Inc. increased its stake in shares of GameSquare by 353.8% in the third 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 period. Virtu Financial LLC raised its holdings in GameSquare by 167.6% in the 4th quarter. Virtu Financial LLC now owns 200,255 shares of the entertainment company’s stock valued at $77,000 after buying an additional 125,428 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in GameSquare in the 4th quarter valued at approximately $153,000. Institutional investors own 64.25% of the company’s stock.

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.