Weiss Asset Management LP Boosts Stock Holdings in Sharplink Gaming Inc. $SBET

Weiss Asset Management LP grew its holdings in Sharplink Gaming Inc. (NASDAQ:SBET) by 19.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,042,548 shares of the company’s stock after purchasing an additional 488,247 shares during the period. Weiss Asset Management LP owned approximately 1.54% of Sharplink Gaming worth $19,624,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in Sharplink Gaming in the 4th quarter valued at approximately $4,398,000. Highbridge Capital Management LLC raised its holdings in Sharplink Gaming by 5,947.5% during the 4th quarter. Highbridge Capital Management LLC now owns 512,764 shares of the company’s stock valued at $4,584,000 after acquiring an additional 504,285 shares during the period. Clear Street Group Inc. purchased a new stake in shares of Sharplink Gaming during the fourth quarter worth $5,253,000. Boundless Plain Holdings Ltd purchased a new stake in shares of Sharplink Gaming during the fourth quarter worth $8,150,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Sharplink Gaming by 332.9% in the first quarter. SG Americas Securities LLC now owns 758,022 shares of the company’s stock worth $4,889,000 after acquiring an additional 582,919 shares during the period. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert M. Gutkowski sold 12,892 shares of the business’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 completion of the transaction, the director directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 24,998 shares in the company, valued at approximately $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 a total of 38,676 shares of company stock worth $286,589 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBET. Citigroup reiterated a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, July 9th. Weiss Ratings raised Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Alliance Global Partners restated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. HC Wainwright began coverage on Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 target price for the company. Finally, Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.23.

Sharplink Gaming Price Performance

Shares of NASDAQ:SBET opened at $5.81 on Friday. The firm has a fifty day moving average price of $5.63 and a two-hundred day moving average price of $7.02. Sharplink Gaming Inc. has a one year low of $4.46 and a one year high of $28.26. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -9.68 and a beta of 10.45.

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