Sharplink Gaming Inc. $SBET Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in Sharplink Gaming Inc. (NASDAQ:SBET) by 332.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 758,022 shares of the company’s stock after purchasing an additional 582,919 shares during the quarter. SG Americas Securities LLC’s holdings in Sharplink Gaming were worth $4,889,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Sharplink Gaming during the third quarter worth approximately $49,000. Empowered Funds LLC acquired a new position in shares of Sharplink Gaming during the 4th quarter worth approximately $56,000. R Squared Ltd purchased a new position in shares of Sharplink Gaming during the 4th quarter valued at approximately $90,000. Abacus Planning Group Inc. purchased a new position in shares of Sharplink Gaming during the 4th quarter valued at approximately $94,000. Finally, CI Investments Inc. purchased a new position in shares of Sharplink Gaming during the 4th quarter valued at approximately $100,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Sharplink Gaming Stock Performance

Shares of SBET opened at $4.92 on Tuesday. The stock has a 50 day moving average price of $6.29 and a 200 day moving average price of $7.53. Sharplink Gaming Inc. has a one year low of $4.46 and a one year high of $40.46. The stock has a market capitalization of $995.71 million, a price-to-earnings ratio of -8.20 and a beta of 10.40.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings data on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The firm had revenue of $12.06 million during the quarter, compared to analysts’ expectations of $14.60 million. During the same quarter in the previous year, the business posted ($1.84) EPS. On average, analysts predict that Sharplink Gaming Inc. will post 0.15 earnings per share for the current year.

Insider Transactions at Sharplink Gaming

In other news, Director Robert M. Gutkowski sold 12,892 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the completion of the sale, the director directly owned 24,998 shares in the company, valued at $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the completion of the transaction, the director directly owned 24,998 shares in the company, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,676 shares of company stock valued at $286,589 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Sharplink Gaming from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Citizens Jmp dropped their target price on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 11th. Cantor Fitzgerald upgraded shares of Sharplink Gaming to a “strong-buy” rating in a research report on Thursday, April 9th. Weiss Ratings cut shares of Sharplink Gaming from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. Finally, HC Wainwright started coverage on shares of Sharplink Gaming in a research report on Tuesday, April 7th. They set a “buy” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sharplink Gaming has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Sharplink Gaming Company Profile

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.