587,561 Shares in Sharplink Gaming Inc. $SBET Purchased by Clear Street Group Inc.

Clear Street Group Inc. acquired a new position in shares of Sharplink Gaming Inc. (NASDAQ:SBET) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 587,561 shares of the company’s stock, valued at approximately $5,253,000. Clear Street Group Inc. owned about 0.30% of Sharplink Gaming at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBET. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming during the 3rd quarter worth about $49,000. Empowered Funds LLC acquired a new stake in shares of Sharplink Gaming during the 4th quarter worth about $56,000. R Squared Ltd acquired a new stake in shares of Sharplink Gaming during the 4th quarter worth about $90,000. Abacus Planning Group Inc. acquired a new stake in shares of Sharplink Gaming during the 4th quarter worth about $94,000. Finally, CI Investments Inc. acquired a new position in Sharplink Gaming in the 4th quarter valued at about $100,000. 13.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sharplink Gaming

In other 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leslie Bernhard 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 value of $95,529.72. Following the transaction, the director directly owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 38,676 shares of company stock valued at $286,589. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen assumed coverage on Sharplink Gaming in a research report on Friday, April 10th. They issued a “buy” rating and a $16.00 target price for the company. Citizens Jmp dropped their target price on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 11th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of Sharplink Gaming in a research report on Tuesday, March 17th. HC Wainwright assumed coverage on Sharplink Gaming in a research report on Tuesday, April 7th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Cantor Fitzgerald raised Sharplink Gaming to a “strong-buy” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.11.

Sharplink Gaming Stock Performance

Shares of Sharplink Gaming stock opened at $5.51 on Friday. Sharplink Gaming Inc. has a one year low of $5.06 and a one year high of $40.46. The company has a market cap of $1.09 billion, a PE ratio of -9.18 and a beta of 10.39. The business has a 50-day simple moving average of $6.63 and a 200-day simple moving average of $7.96.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings data 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 return on equity of 38.53% and a negative net margin of 3,604.61%.The company had revenue of $12.06 million for the quarter, compared to analyst estimates of $14.60 million. During the same period in the prior year, the firm posted ($1.84) earnings per share. On average, sell-side analysts predict that Sharplink Gaming Inc. will post 0.15 earnings per share 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.