Compass Financial Management LLC Acquires Shares of 231,220 Sharplink Gaming Inc. $SBET

Compass Financial Management LLC acquired a new stake in Sharplink Gaming Inc. (NASDAQ:SBET) in the second quarter, HoldingsChannel.com reports. The fund acquired 231,220 shares of the company’s stock, valued at approximately $1,110,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in Sharplink Gaming in the 2nd quarter valued at $3,229,000. Qube Research & Technologies Ltd bought a new position in Sharplink Gaming during the second quarter worth $151,000. NewEdge Advisors LLC bought a new position in Sharplink Gaming during the second quarter worth $101,000. HUB Investment Partners LLC acquired a new position in shares of Sharplink Gaming in the second quarter valued at $298,000. Finally, Anatole Investment Management Ltd acquired a new position in shares of Sharplink Gaming in the second quarter valued at $6,332,000. 13.75% of the stock is currently owned by institutional investors.

Sharplink Gaming Stock Performance

Shares of SBET stock opened at $7.91 on Monday. The stock has a market cap of $1.72 billion, a P/E ratio of 158.20 and a beta of 10.48. The stock has a 50 day simple moving average of $5.87 and a 200 day simple moving average of $6.50. Sharplink Gaming Inc. has a 1 year low of $4.46 and a 1 year high of $21.03.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings data on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). The company had revenue of $11.53 million for the quarter, compared to the consensus estimate of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. Analysts forecast that Sharplink Gaming Inc. will post 0.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SBET shares. Alliance Global Partners restated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. Citizens Jmp decreased their price target on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. Cantor Fitzgerald cut their price objective on shares of Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Weiss Ratings upgraded Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Finally, Wall Street Zen lowered Sharplink Gaming from a “hold” rating to a “strong sell” rating in a research note on Saturday. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sharplink Gaming presently has an average rating of “Moderate Buy” and a consensus target price of $19.01.

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.