BNP Paribas Financial Markets Has $22.87 Million Position in Sharplink Gaming Inc. $SBET

BNP Paribas Financial Markets grew its holdings in Sharplink Gaming Inc. (NASDAQ:SBET) by 73.5% during the 4th quarter, HoldingsChannel reports. The firm owned 2,558,589 shares of the company’s stock after acquiring an additional 1,083,956 shares during the quarter. BNP Paribas Financial Markets’ holdings in Sharplink Gaming were worth $22,874,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming in the third quarter valued at about $49,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sharplink Gaming by 23.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock valued at $139,000 after purchasing an additional 2,946 shares during the last quarter. IFP Advisors Inc acquired a new stake in shares of Sharplink Gaming in the third quarter valued at about $102,000. Highbridge Capital Management LLC acquired a new stake in shares of Sharplink Gaming in the third quarter valued at about $144,000. Finally, R Squared Ltd acquired a new stake in shares of Sharplink Gaming in the fourth quarter valued at about $90,000. 13.75% of the stock is owned by institutional investors and hedge funds.

Sharplink Gaming Stock Down 9.3%

SBET stock opened at $5.19 on Friday. Sharplink Gaming Inc. has a twelve month low of $5.06 and a twelve month high of $49.52. The company has a market cap of $1.02 billion, a PE ratio of -8.65 and a beta of 10.39. The business’s 50-day simple moving average is $6.72 and its 200 day simple moving average is $8.12.

Sharplink Gaming (NASDAQ:SBET) last released its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($2.63). Sharplink Gaming had a negative return on equity of 38.53% and a negative net margin of 3,604.61%.The firm had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. During the same period last year, the business earned ($1.84) earnings per share. On average, equities research analysts anticipate that Sharplink Gaming Inc. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

SBET has been the topic of several research analyst reports. Cantor Fitzgerald raised Sharplink Gaming to a “strong-buy” rating in a research report on Thursday, April 9th. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 target price on shares of Sharplink Gaming in a research report on Tuesday, March 17th. Wall Street Zen raised Sharplink Gaming from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings raised Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sharplink Gaming presently has a consensus rating of “Moderate Buy” and an average target price of $22.11.

Insider Buying and Selling at Sharplink Gaming

In other Sharplink Gaming news, Director Leslie Bernhard sold 12,892 shares of Sharplink Gaming stock in a transaction that occurred on 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 approximately $185,235.18. The trade was a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Obie Mckenzie sold 12,892 shares of Sharplink Gaming 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 sale, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 38,676 shares of company stock valued at $286,589. 3.60% of the stock is currently owned by corporate 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.