Compass Financial Management LLC Invests $1.11 Million in Sharplink Gaming Inc. $SBET

Key Points

• Compass Financial Management initiated a position in SharpLink Gaming, purchasing 231,220 shares valued at approximately $1.11 million, or about 0.11% of the company. Institutional investors and hedge funds collectively own 13.75% of the stock.
• Analyst sentiment remains broadly positive, with nine analysts rating SBET a Buy; however, several firms recently lowered their price targets. The consensus rating is “Moderate Buy,” with a target price of $15.39.
• SharpLink Gaming reported a quarterly loss of $1.88 per share, missing estimates by $1.89, while revenue of $11.53 million also fell short of expectations. The stock opened at $8.68, with a market capitalization of approximately $1.89 billion.

Compass Financial Management LLC bought a new position in shares of Sharplink Gaming Inc. (NASDAQ:SBET - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 231,220 shares of the company's stock, valued at approximately $1,110,000. Compass Financial Management LLC owned about 0.11% of Sharplink Gaming at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sharplink Gaming during the third quarter worth about $49,000. Empowered Funds LLC purchased a new position in shares of Sharplink Gaming in the 4th quarter valued at approximately $56,000. Independent Financial Group LLC acquired a new stake in Sharplink Gaming in the 1st quarter worth approximately $65,000. Koshinski Asset Management Inc. acquired a new stake in Sharplink Gaming in the 1st quarter worth approximately $71,000. Finally, SummitTX Capital L.P. purchased a new stake in Sharplink Gaming during the 1st quarter worth approximately $73,000. 13.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citizens Jmp cut their price target on shares of Sharplink Gaming to $30.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 9th. Weiss Ratings raised shares of Sharplink Gaming from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. Canaccord Genuity Group cut their target price on Sharplink Gaming from $16.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday, August 18th. Alliance Global Partners reissued a "buy" rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Finally, TD Cowen restated a "buy" rating and issued a $13.00 target price (down from $16.00) on shares of Sharplink Gaming in a research note on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.39.

Sharplink Gaming Stock Performance

SBET opened at $8.68 on Monday. Sharplink Gaming Inc. has a 12-month low of $4.46 and a 12-month high of $19.53. The firm has a market capitalization of $1.89 billion, a PE ratio of 173.60 and a beta of 10.56. The firm has a 50 day moving average of $6.53 and a two-hundred day moving average of $6.62.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last announced its quarterly earnings data on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing the consensus estimate of $0.01 by ($1.89). The business had revenue of $11.53 million for the quarter, compared to analyst estimates of $12.26 million. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. As a group, analysts predict that Sharplink Gaming Inc. will post 0.12 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding SBET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sharplink Gaming Inc. (NASDAQ:SBET - Free Report).

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