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

GameSquare (NASDAQ:GAME) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. ThinkEquity initiated coverage on shares of GameSquare in a report on Monday, June 8th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of GameSquare to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings upgraded shares of GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, GameSquare has a consensus rating of “Moderate Buy”.

GameSquare Trading Up 9.5%

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. GameSquare has a 12 month low of $0.23 and a 12 month high of $0.94. The stock has a fifty day moving average price of $0.38 and a 200-day moving average price of $0.37.

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

Insider Buying and Selling at GameSquare

In other GameSquare news, insider & Silver Ventures Ltd. Blue acquired 144,346 shares of the 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 of the company’s stock, valued at $2,519,000.40. This trade represents a 2.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in 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 last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of GameSquare during the third quarter worth about $1,358,000. UBS Group AG increased its holdings in shares of GameSquare by 275,329.0% during the third quarter. UBS Group AG now owns 1,669,100 shares of the entertainment company’s stock valued at $1,133,000 after acquiring an additional 1,668,494 shares in the last quarter. BlackRock Inc. acquired a new position in shares of GameSquare during the second quarter valued at about $413,000. Finally, Geode Capital Management LLC raised its position in shares of GameSquare by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 970,853 shares of the entertainment company’s stock valued at $374,000 after purchasing an additional 138,361 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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.