Insider Selling: Sharplink Gaming (NASDAQ:SBET) Director Sells $95,529.72 in Stock

Sharplink Gaming Inc. (NASDAQ:SBET) Director Obie Mckenzie sold 12,892 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sharplink Gaming Price Performance

NASDAQ SBET opened at $6.72 on Monday. The business has a fifty day moving average price of $7.19 and a two-hundred day moving average price of $8.74. Sharplink Gaming Inc. has a fifty-two week low of $2.58 and a fifty-two week high of $124.12. The stock has a market capitalization of $1.33 billion, a PE ratio of -11.20 and a beta of 10.69.

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 the consensus estimate 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 business had revenue of $12.06 million for the quarter, compared to the consensus estimate of $14.60 million. During the same quarter in the previous year, the company earned ($1.84) earnings per share. As a group, sell-side analysts expect that Sharplink Gaming Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on SBET. Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. B. Riley Financial dropped their price target on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Sharplink Gaming in a research note on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Finally, HC Wainwright began coverage on Sharplink Gaming in a research note on Tuesday, April 7th. They issued a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. raised its position in Sharplink Gaming by 70.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company’s stock worth $38,162,000 after purchasing an additional 1,769,589 shares during the last quarter. Weiss Asset Management LP raised its position 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 during the last quarter. Invesco Ltd. raised its position 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 during the last quarter. Vanguard Group Inc. bought a new position in Sharplink Gaming during the 3rd quarter worth $46,447,000. Finally, Voloridge Investment Management LLC raised its position 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 last quarter. 13.75% of the stock is owned by institutional investors.

About Sharplink Gaming

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.