Obie Mckenzie Sells 12,892 Shares of Sharplink Gaming (NASDAQ:SBET) Stock

Sharplink Gaming Inc. (NASDAQ:SBET) 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 value of $95,529.72. Following the completion of the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sharplink Gaming Stock Down 9.2%

Shares of NASDAQ:SBET opened at $6.72 on Friday. Sharplink Gaming Inc. has a 52-week low of $2.58 and a 52-week high of $124.12. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -11.20 and a beta of 10.69. The business has a 50-day moving average price of $7.19 and a 200-day moving average price of $8.78.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings data on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($2.63). Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.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 earned ($1.84) earnings per share. As a group, equities analysts anticipate that Sharplink Gaming Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of Sharplink Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. grew its holdings in Sharplink Gaming by 70.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company’s stock valued at $38,162,000 after purchasing an additional 1,769,589 shares during the period. Weiss Asset Management LP grew its holdings in Sharplink Gaming by 19.1% in the first quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock valued at $19,624,000 after purchasing an additional 488,247 shares during the period. Invesco Ltd. grew its holdings in Sharplink Gaming by 165.9% in the fourth quarter. Invesco Ltd. now owns 2,734,052 shares of the company’s stock valued at $24,442,000 after purchasing an additional 1,706,011 shares during the period. Vanguard Group Inc. acquired a new stake in Sharplink Gaming in the third quarter valued at approximately $46,447,000. Finally, Voloridge Investment Management LLC grew its holdings in Sharplink Gaming by 344.4% in the fourth quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock valued at $24,240,000 after purchasing an additional 2,101,252 shares during the period. 13.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on SBET. Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 target price on shares of Sharplink Gaming in a report on Tuesday, March 17th. Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. HC Wainwright began coverage on Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 target price on the stock. B. Riley Financial dropped their target price on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Citizens Jmp dropped their target price on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sharplink Gaming has an average rating of “Moderate Buy” and an average price target 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.