Sharplink Gaming Inc. $SBET Shares Sold by Anatole Investment Management Ltd

Anatole Investment Management Ltd cut its stake in shares of Sharplink Gaming Inc. (NASDAQ:SBET) by 97.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 56,808 shares of the company’s stock after selling 1,906,689 shares during the period. Sharplink Gaming comprises about 0.1% of Anatole Investment Management Ltd’s holdings, making the stock its 13th biggest holding. Anatole Investment Management Ltd’s holdings in Sharplink Gaming were worth $508,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in SBET. Ausdal Financial Partners Inc. raised its holdings in shares of Sharplink Gaming by 16.1% during the fourth quarter. Ausdal Financial Partners Inc. now owns 11,606 shares of the company’s stock valued at $104,000 after acquiring an additional 1,606 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Sharplink Gaming by 4.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 45,305 shares of the company’s stock valued at $405,000 after acquiring an additional 1,838 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sharplink Gaming during the third quarter valued at approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sharplink Gaming by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock valued at $139,000 after acquiring an additional 2,946 shares during the last quarter. Finally, Arete Wealth Advisors LLC raised its holdings in shares of Sharplink Gaming by 6.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 55,249 shares of the company’s stock valued at $494,000 after acquiring an additional 3,585 shares during the last quarter. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SBET. TD Cowen began coverage on Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 target price for the company. Weiss Ratings cut Sharplink Gaming from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. B. Riley Financial reduced their target price on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Citizens Jmp reduced their target price on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a report on Wednesday, March 11th. Finally, HC Wainwright began coverage on Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 target price for the company. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat, Sharplink Gaming has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

Insider Activity

In related news, Director Obie Mckenzie sold 12,892 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 24,998 shares in the company, valued at approximately $185,235.18. This represents a 34.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leslie Bernhard sold 12,892 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders sold 38,676 shares of company stock worth $286,589 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Sharplink Gaming Price Performance

SBET stock opened at $5.36 on Thursday. The business has a 50 day simple moving average of $6.59 and a 200-day simple moving average of $7.85. The firm has a market capitalization of $1.06 billion, a PE ratio of -8.93 and a beta of 10.39. Sharplink Gaming Inc. has a 1 year low of $5.06 and a 1 year high of $40.46.

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

Sharplink Gaming 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.