Boundless Plain Holdings Ltd Purchases Shares of 911,609 Sharplink Gaming Inc. $SBET

Boundless Plain Holdings Ltd purchased a new stake in Sharplink Gaming Inc. (NASDAQ:SBET) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 911,609 shares of the company’s stock, valued at approximately $8,150,000. Sharplink Gaming accounts for 2.6% of Boundless Plain Holdings Ltd’s investment portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBET. Vanguard Group Inc. acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at about $46,447,000. Alyeska Investment Group L.P. acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at about $42,509,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at about $30,812,000. Tidal Investments LLC acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at about $30,283,000. Finally, Citigroup Inc. acquired a new stake in shares of Sharplink Gaming in the 3rd quarter valued at about $27,560,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Insider Activity

In other news, Director Leslie Bernhard 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 in the company, valued at $185,235.18. This trade represents a 34.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Obie Mckenzie 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 of the company’s stock, valued at $185,235.18. The trade was a 34.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 38,676 shares of company stock worth $286,589 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Sharplink Gaming Price Performance

Shares of NASDAQ SBET opened at $6.23 on Friday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -10.38 and a beta of 10.69. The business has a 50-day moving average of $7.07 and a 200-day moving average of $8.52. Sharplink Gaming Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings data on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($2.63). The company had revenue of $12.06 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned ($1.84) EPS. On average, sell-side analysts expect that Sharplink Gaming Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. B. Riley Financial dropped their price target on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Cantor Fitzgerald raised Sharplink Gaming to a “strong-buy” rating in a research note on Thursday, April 9th. Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Citizens Jmp dropped their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 11th. Finally, HC Wainwright started coverage on Sharplink Gaming in a report on Tuesday, April 7th. They issued a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sharplink Gaming has an average rating of “Moderate Buy” and an average price target of $22.11.

Sharplink Gaming 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.