Insider Selling: Sharplink Gaming (NASDAQ:SBET) Director Sells 18,334 Shares of Stock

Key Points

• Robert M. Gutkowski, a director at Sharplink Gaming Inc., sold 18,334 shares of the company at an average price of $19.17, totaling approximately $351,462.78, reducing their ownership by 42.31%.
• The company's stock experienced a 1.4% increase during trading, reaching $20.12, with a high trading volume of over 43 million shares.
• Sharplink Gaming reported a significant negative EPS of ($0.64) for the last quarter, along with a net margin of -3,377.39% and a return on equity of -885.79%.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) Director Robert M. Gutkowski sold 18,334 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the sale, the director owned 24,998 shares of the company's stock, valued at $479,211.66. This represents a 42.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sharplink Gaming Price Performance

Shares of SBET stock traded up $1.9190 during mid-day trading on Friday, hitting $19.9590. The stock had a trading volume of 39,250,466 shares, compared to its average volume of 14,423,841. Sharplink Gaming Inc. has a 12-month low of $2.26 and a 12-month high of $124.12. The firm's 50-day moving average is $18.55 and its two-hundred day moving average is $12.83.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.64) earnings per share for the quarter. Sharplink Gaming had a negative return on equity of 15.93% and a negative net margin of 3,377.39%.The firm had revenue of $0.70 million during the quarter.

Institutional Investors Weigh In On Sharplink Gaming

Several hedge funds have recently made changes to their positions in the company. Thames Capital Management LLC bought a new stake in Sharplink Gaming during the second quarter valued at about $1,566,000. JPMorgan Chase & Co. bought a new stake in Sharplink Gaming during the second quarter valued at about $3,229,000. XTX Topco Ltd boosted its position in Sharplink Gaming by 509.9% during the second quarter. XTX Topco Ltd now owns 110,270 shares of the company's stock valued at $1,095,000 after purchasing an additional 92,189 shares in the last quarter. Marshall Wace LLP bought a new stake in Sharplink Gaming during the second quarter valued at about $26,852,000. Finally, Qube Research & Technologies Ltd bought a new stake in Sharplink Gaming during the second quarter valued at about $151,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

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.