Short Interest in GameSquare Holdings, Inc. (NASDAQ:GAME) Grows By 131.1%

GameSquare Holdings, Inc. (NASDAQ:GAME) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 7,963,730 shares, a growth of 131.1% from the June 30th total of 3,445,514 shares. Based on an average trading volume of 949,622 shares, the days-to-cover ratio is presently 8.4 days. Currently, 8.3% of the shares of the stock are sold short.

GameSquare Price Performance

Shares of GAME traded down $0.00 during mid-day trading on Tuesday, reaching $0.36. The stock had a trading volume of 40,853 shares, compared to its average volume of 4,146,825. GameSquare has a 52-week low of $0.23 and a 52-week high of $1.10. The firm has a market cap of $37.09 million, a price-to-earnings ratio of -0.61 and a beta of 1.51. The business’s fifty day moving average is $0.39 and its 200 day moving average is $0.38.

Insider Buying and Selling

In related news, insider & Silver Ventures Ltd. Blue acquired 144,346 shares of GameSquare stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $0.42 per share, for a total transaction of $60,625.32. Following the completion of the transaction, the insider owned 5,997,620 shares of the company’s stock, valued at approximately $2,519,000.40. The trade was a 2.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in GameSquare in the second quarter worth approximately $38,000. Virtu Financial LLC raised its position in GameSquare by 167.6% in the fourth quarter. Virtu Financial LLC now owns 200,255 shares of the entertainment company’s stock valued at $77,000 after purchasing an additional 125,428 shares during the period. Geode Capital Management LLC lifted its stake in shares of GameSquare by 23.9% in the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company’s stock valued at $186,000 after purchasing an additional 41,196 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of GameSquare during the 4th quarter worth $153,000. Finally, Renaissance Technologies LLC grew its holdings 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 worth $163,000 after purchasing an additional 36,200 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GAME. Zacks Research upgraded shares of GameSquare from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings upgraded GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. ThinkEquity assumed coverage on GameSquare in a research report on Monday, June 8th. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded GameSquare to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.