Lakewood Capital Management LP Makes New Investment in Sharplink Gaming Inc. $SBET

Lakewood Capital Management LP purchased a new stake in Sharplink Gaming Inc. (NASDAQ:SBET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 559,000 shares of the company’s stock, valued at approximately $2,683,000. Lakewood Capital Management LP owned 0.26% of Sharplink Gaming as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. raised its stake in shares of Sharplink Gaming by 70.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company’s stock valued at $38,162,000 after acquiring an additional 1,769,589 shares in the last quarter. Weiss Asset Management LP grew its stake in Sharplink Gaming by 19.1% during the 1st quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock worth $19,624,000 after purchasing an additional 488,247 shares in the last quarter. Invesco Ltd. grew its stake in Sharplink Gaming by 165.9% during the 4th quarter. Invesco Ltd. now owns 2,734,052 shares of the company’s stock worth $24,442,000 after purchasing an additional 1,706,011 shares in the last quarter. Vanguard Group Inc. acquired a new position in Sharplink Gaming during the 3rd quarter worth $46,447,000. Finally, Voloridge Investment Management LLC increased its holdings in Sharplink Gaming by 344.4% during the 4th quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock worth $24,240,000 after purchasing an additional 2,101,252 shares during the period. Institutional investors and hedge funds own 13.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SBET shares. Citizens Jmp reduced their price target on Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a research report 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. TD Cowen reaffirmed a “buy” rating and issued a $13.00 target price (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Wall Street Zen downgraded shares of Sharplink Gaming from a “hold” rating to a “strong sell” rating in a research note on Saturday. Finally, Canaccord Genuity Group lowered their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.01.

Sharplink Gaming Stock Performance

SBET opened at $8.27 on Tuesday. Sharplink Gaming Inc. has a one year low of $4.46 and a one year high of $20.41. The company has a market cap of $1.80 billion, a P/E ratio of 165.40 and a beta of 10.48. The business’s 50-day simple moving average is $5.92 and its 200-day simple moving average is $6.51.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share 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 analysts’ expectations of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. As a group, analysts predict that Sharplink Gaming Inc. will post 0.09 earnings per share for the current fiscal year.

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.