GameSquare Holdings Inc. (NASDAQ:GAME) saw its stock gain 4% on Thursday after revealing that it has repurchased more than 1.1 million of its outstanding common shares.
The company disclosed that it bought back 1,120,606 shares for a total of $565,806, reflecting an average purchase price of roughly $0.50 per share. After this latest round of repurchases, GameSquare still has about $3.9 million available under its existing buyback authorization.
Since October 2023, GameSquare has reacquired 1,953,730 shares valued at $1,164,955, with the average cost coming in near $0.60 per share.
“GameSquare has never been in a stronger financial and operating position,” said Justin Kenna, CEO of GameSquare. “At current share prices, we see a compelling dislocation between our intrinsic value and market value, and we will continue to allocate capital to opportunistic repurchases where we believe it meaningfully enhances shareholder value. This buyback is a clear signal of that conviction and the strength of our business model.”
The company positioned itself as a “next-generation media, entertainment, technology and digital native treasury company,” adding that it intends to continue using share repurchases as part of its broader capital allocation strategy whenever it sees attractive opportunities.