JPMorgan Chase & Co. Has $1.67 Million Holdings in Sharplink Gaming Inc. $SBET

JPMorgan Chase & Co. reduced its position in Sharplink Gaming Inc. (NASDAQ:SBET) by 69.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,268 shares of the company’s stock after selling 226,932 shares during the period. JPMorgan Chase & Co.’s holdings in Sharplink Gaming were worth $1,672,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in Sharplink Gaming in the 3rd quarter worth about $46,447,000. Alyeska Investment Group L.P. acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at about $42,509,000. Anatole Investment Management Ltd increased its holdings in shares of Sharplink Gaming by 207.9% during the 3rd quarter. Anatole Investment Management Ltd now owns 1,963,497 shares of the company’s stock valued at $33,399,000 after acquiring an additional 1,325,797 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at about $30,812,000. Finally, Tidal Investments LLC acquired a new position in shares of Sharplink Gaming during the 3rd quarter valued at about $30,283,000. 13.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SBET shares. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price objective on shares of Sharplink Gaming in a report on Tuesday, March 17th. HC Wainwright started coverage on Sharplink Gaming in a report on Tuesday. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. B. Riley Financial lowered their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Citizens Jmp lowered their price objective on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sharplink Gaming currently has an average rating of “Moderate Buy” and an average price target of $22.88.

Sharplink Gaming Stock Up 2.9%

SBET opened at $6.42 on Thursday. The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.69 and a beta of 11.31. The stock’s 50 day moving average price is $7.12 and its two-hundred day moving average price is $10.33. Sharplink Gaming Inc. has a 12-month low of $2.26 and a 12-month high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last released its earnings results on Friday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. The firm had revenue of $13.31 million for the quarter, compared to analyst estimates of $17.19 million. Sharplink Gaming had a negative return on equity of 50.72% and a negative net margin of 2,618.38%.

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.