Long Corridor Asset Management Ltd Invests $1.87 Million in Sharplink Gaming Inc. $SBET

Long Corridor Asset Management Ltd bought a new stake in shares of Sharplink Gaming Inc. (NASDAQ:SBET) during the third quarter, Holdings Channel reports. The fund bought 110,000 shares of the company’s stock, valued at approximately $1,871,000. Sharplink Gaming makes up approximately 0.8% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 19th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Powell Investment Advisors LLC purchased a new stake in Sharplink Gaming in the 3rd quarter worth $183,000. First Trust Advisors LP purchased a new position in Sharplink Gaming during the third quarter valued at $748,000. HUB Investment Partners LLC lifted its holdings in Sharplink Gaming by 63.4% during the third quarter. HUB Investment Partners LLC now owns 49,025 shares of the company’s stock valued at $834,000 after purchasing an additional 19,025 shares in the last quarter. Insigneo Advisory Services LLC acquired a new stake in shares of Sharplink Gaming in the third quarter valued at about $173,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Sharplink Gaming in the third quarter valued at about $2,400,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Analyst Ratings Changes

SBET has been the subject of several research analyst reports. B. Riley Financial reduced their price target on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Wall Street Zen cut Sharplink Gaming from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the stock a “buy” rating in a research note on Thursday, January 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Finally, iA Financial set a $20.00 target price on Sharplink Gaming in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.14.

Sharplink Gaming Stock Down 7.4%

Sharplink Gaming stock opened at $7.34 on Friday. The company has a fifty day simple moving average of $8.46 and a 200-day simple moving average of $12.02. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -3.07 and a beta of 11.40. Sharplink Gaming Inc. has a 52-week low of $2.26 and a 52-week high of $124.12.

About Sharplink Gaming

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.