SG Americas Securities LLC Increases Stake in Sharplink Gaming Inc. $SBET

Key Points

• SG Americas Securities LLC boosted its Sharplink Gaming stake by 332.9% in Q1, ending with 758,022 shares worth about $4.89 million.
• Institutional interest in SBET remains notable, with major investors like Vanguard, Alyeska, Voloridge, Tidal, and Weiss increasing or initiating positions; hedge funds and other institutions now own 13.75% of the company.
• Sharplink Gaming’s fundamentals remain weak: the company reported a Q1 EPS loss of $3.25 versus expectations for a smaller loss, and analysts currently view the stock as a Moderate Buy with a consensus price target of $22.11.

SG Americas Securities LLC increased its stake in Sharplink Gaming Inc. (NASDAQ:SBET - Free Report) by 332.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 758,022 shares of the company's stock after purchasing an additional 582,919 shares during the period. SG Americas Securities LLC owned 0.38% of Sharplink Gaming worth $4,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of Sharplink Gaming in the third quarter worth $46,447,000. Alyeska Investment Group L.P. purchased a new stake in shares of Sharplink Gaming during the third quarter valued at $42,509,000. Voloridge Investment Management LLC grew its holdings in shares of Sharplink Gaming by 344.4% during the fourth quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company's stock valued at $24,240,000 after buying an additional 2,101,252 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Sharplink Gaming during the third quarter valued at $30,283,000. Finally, Weiss Asset Management LP increased its position in shares of Sharplink Gaming by 220.0% in the 4th quarter. Weiss Asset Management LP now owns 2,554,301 shares of the company's stock valued at $22,835,000 after acquiring an additional 1,755,973 shares during the period. Hedge funds and other institutional investors own 13.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBET. Weiss Ratings lowered Sharplink Gaming from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 16th. Citizens Jmp cut their price objective 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. Wall Street Zen cut Sharplink Gaming from a "hold" rating to a "sell" rating in a research note on Saturday, June 20th. Alliance Global Partners reaffirmed a "buy" rating on shares of Sharplink Gaming in a report on Monday, May 11th. Finally, Cantor Fitzgerald upgraded Sharplink Gaming to a "strong-buy" rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Sharplink Gaming presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.11.

Sharplink Gaming Price Performance

Shares of Sharplink Gaming stock opened at $4.92 on Tuesday. The stock has a market cap of $995.71 million, a PE ratio of -8.20 and a beta of 10.40. The firm has a fifty day moving average price of $6.29 and a 200 day moving average price of $7.53. Sharplink Gaming Inc. has a 1 year low of $4.46 and a 1 year high of $40.46.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($3.25) EPS for the quarter, missing the consensus estimate of ($0.62) by ($2.63). The business had revenue of $12.06 million during the quarter, compared to analysts' expectations of $14.60 million. Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. During the same period in the previous year, the company posted ($1.84) earnings per share. As a group, equities analysts expect that Sharplink Gaming Inc. will post 0.15 EPS for the current year.

Insider Transactions at Sharplink Gaming

In related news, Director Robert M. Gutkowski 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 sale, the director directly owned 24,998 shares of the company's stock, valued at $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie Bernhard sold 12,892 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 24,998 shares of the company's stock, valued at $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,676 shares of company stock worth $286,589 over the last quarter. 3.60% of the stock is currently owned by insiders.

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.

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