GameSquare Shares Set to Reverse Split on Monday, August 24th (NASDAQ:GAME)

GameSquare Holdings, Inc. (NASDAQ:GAME) shares are set to reverse split before the market opens on Monday, August 24th. The 1-8 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 23rd.

GameSquare Stock Performance

Shares of NASDAQ GAME traded up $0.02 during trading hours on Thursday, hitting $0.44. 2,589,165 shares of the stock were exchanged, compared to its average volume of 1,351,545. The company’s fifty day simple moving average is $0.38 and its two-hundred day simple moving average is $0.37. The company has a market cap of $45.35 million, a PE ratio of 20.78 and a beta of 1.56. GameSquare has a 1-year low of $0.23 and a 1-year high of $0.94.

GameSquare (NASDAQ:GAME) last announced its quarterly earnings data on Monday, August 10th. The entertainment company reported ($0.11) EPS for the quarter. GameSquare had a negative net margin of 96.06% and a positive return on equity of 7.97%. The firm had revenue of $18.48 million for the quarter. As a group, sell-side analysts expect that GameSquare will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings upgraded GameSquare from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. Wall Street Zen raised shares of GameSquare to a “hold” rating in a report on Saturday, April 25th. Zacks Research upgraded shares of GameSquare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Finally, ThinkEquity assumed coverage on shares of GameSquare in a research report on Monday, June 8th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, GameSquare presently has an average rating of “Moderate Buy”.

Insider Activity

In other GameSquare news, insider & Silver Ventures Ltd. Blue acquired 620,100 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $0.43 per share, for a total transaction of $266,643.00. Following the acquisition, the insider directly owned 5,853,274 shares in the company, valued at $2,516,907.82. This represents a 11.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GameSquare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd lifted its holdings in GameSquare by 47.3% during the 4th 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 position in shares of GameSquare by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 970,853 shares of the entertainment company’s stock worth $374,000 after acquiring an additional 138,361 shares during the last quarter. Vanguard Group Inc. raised its position in shares of GameSquare by 353.8% during the third 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. Polar Asset Management Partners Inc. acquired a new position in shares of GameSquare in the third quarter worth approximately $1,358,000. Finally, UBS Group AG boosted its holdings in 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 acquiring an additional 1,668,494 shares during the last quarter. 64.25% of the stock is currently 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.