1,812,506 Shares in Sharplink Gaming Inc. $SBET Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new stake in Sharplink Gaming Inc. (NASDAQ:SBET) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,812,506 shares of the company’s stock, valued at approximately $11,691,000.

A number of other large investors also recently modified their holdings of the business. CI Investments Inc. boosted its holdings in Sharplink Gaming by 35.6% in the 1st quarter. CI Investments Inc. now owns 15,135 shares of the company’s stock valued at $98,000 after purchasing an additional 3,977 shares during the period. Independent Financial Group LLC bought a new stake in Sharplink Gaming in the first quarter valued at $65,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Sharplink Gaming during the 1st quarter worth about $158,000. Hsbc Holdings PLC increased its holdings in shares of Sharplink Gaming by 51.2% during the first quarter. Hsbc Holdings PLC now owns 149,648 shares of the company’s stock worth $964,000 after buying an additional 50,647 shares in the last quarter. Finally, Childress Capital Advisors LLC bought a new position in Sharplink Gaming in the 1st quarter valued at $161,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings raised Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. TD Cowen reiterated a “buy” rating and set a $13.00 target price (down from $16.00) on shares of Sharplink Gaming in a report on Friday. HC Wainwright started coverage on shares of Sharplink Gaming in a report on Tuesday, April 7th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Insider Activity

In other Sharplink Gaming news, Director Leslie Bernhard sold 12,892 shares of Sharplink Gaming 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 transaction, the director owned 24,998 shares in the company, valued at $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Obie Mckenzie sold 12,892 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the transaction, the director owned 24,998 shares of the company’s stock, 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. In the last three months, insiders sold 38,676 shares of company stock worth $286,589. 3.60% of the stock is currently owned by company insiders.

Sharplink Gaming Trading Down 4.5%

SBET opened at $6.12 on Friday. The stock’s fifty day simple moving average is $5.63 and its 200 day simple moving average is $6.88. The stock has a market cap of $1.24 billion, a PE ratio of -10.20 and a beta of 10.45. Sharplink Gaming Inc. has a 1-year low of $4.46 and a 1-year high of $28.26.

Sharplink Gaming (NASDAQ:SBET) last issued its quarterly earnings data on Friday, May 8th. The company reported ($3.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). The firm had revenue of $12.06 million for the quarter, compared to the consensus estimate of $14.60 million. Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.During the same quarter in the prior year, the firm earned ($1.84) EPS. Equities analysts forecast that Sharplink Gaming Inc. will post 0.11 earnings per share for the current year.

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.