RBF Capital LLC acquired a new position in Sharplink Gaming Inc. (NASDAQ:SBET – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 139,520 shares of the company’s stock, valued at approximately $1,247,000.
Other hedge funds also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new position in Sharplink Gaming in the 4th quarter worth approximately $4,398,000. Highbridge Capital Management LLC raised its holdings in Sharplink Gaming by 5,947.5% in the 4th quarter. Highbridge Capital Management LLC now owns 512,764 shares of the company’s stock worth $4,584,000 after acquiring an additional 504,285 shares during the last quarter. BIT Capital GmbH raised its holdings in Sharplink Gaming by 103.5% in the 3rd quarter. BIT Capital GmbH now owns 1,215,819 shares of the company’s stock worth $20,681,000 after acquiring an additional 618,508 shares during the last quarter. Clear Street Group Inc. purchased a new position in Sharplink Gaming in the 4th quarter worth approximately $5,253,000. Finally, MMCAP International Inc. SPC purchased a new position in Sharplink Gaming in the 3rd quarter worth approximately $8,483,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.
Sharplink Gaming Trading Down 3.8%
Shares of SBET opened at $5.58 on Wednesday. The firm has a market cap of $1.10 billion, a PE ratio of -9.30 and a beta of 10.39. The firm has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $7.88. Sharplink Gaming Inc. has a 1-year low of $5.06 and a 1-year high of $40.46.
Analysts Set New Price Targets
SBET has been the subject of a number of recent analyst reports. Citizens Jmp decreased their price objective on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a report on Wednesday, March 11th. Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. B. Riley Financial decreased their price objective on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a report on Monday, February 23rd. TD Cowen began coverage on shares of Sharplink Gaming in a report on Friday, April 10th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.
View Our Latest Stock Analysis on Sharplink Gaming
Insider Buying and Selling at Sharplink Gaming
In other Sharplink Gaming news, Director Obie Mckenzie sold 12,892 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total transaction of $95,529.72. Following the completion of the sale, the director directly owned 24,998 shares in the company, valued at approximately $185,235.18. The trade was a 34.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie Bernhard sold 12,892 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total transaction of $95,529.72. Following the sale, the director 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. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 38,676 shares of company stock worth $286,589. Insiders own 3.60% of the company’s stock.
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.
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