Anatole Investment Management Ltd Lowers Holdings in Sharplink Gaming Inc. $SBET

Anatole Investment Management Ltd trimmed its holdings in Sharplink Gaming Inc. (NASDAQ:SBET) by 97.1% in the 4th quarter, HoldingsChannel reports. The fund owned 56,808 shares of the company’s stock after selling 1,906,689 shares during the quarter. Sharplink Gaming makes up approximately 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.

Other hedge funds also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new stake in shares of Sharplink Gaming in the fourth quarter valued at $4,398,000. Highbridge Capital Management LLC raised its stake in shares of Sharplink Gaming by 5,947.5% in the fourth quarter. Highbridge Capital Management LLC now owns 512,764 shares of the company’s stock valued at $4,584,000 after acquiring an additional 504,285 shares in the last quarter. BIT Capital GmbH raised its stake in shares of Sharplink Gaming by 103.5% in the third quarter. BIT Capital GmbH now owns 1,215,819 shares of the company’s stock valued at $20,681,000 after acquiring an additional 618,508 shares in the last quarter. Clear Street Group Inc. acquired a new stake in shares of Sharplink Gaming in the fourth quarter valued at $5,253,000. Finally, MMCAP International Inc. SPC acquired a new stake in shares of Sharplink Gaming in the third quarter valued at $8,483,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on SBET shares. Weiss Ratings cut Sharplink Gaming from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. HC Wainwright started coverage on Sharplink Gaming in a research note on Tuesday, April 7th. They issued a “buy” rating and a $10.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Sharplink Gaming in a research note on Tuesday, March 17th. Cantor Fitzgerald upgraded Sharplink Gaming to a “strong-buy” rating in a research note on Thursday, April 9th. Finally, B. Riley Financial reduced their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.11.

Insiders Place Their Bets

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 12,892 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 38,676 shares of company stock valued at $286,589. 3.60% of the stock is currently owned by insiders.

Sharplink Gaming Price Performance

Sharplink Gaming stock opened at $5.36 on Thursday. Sharplink Gaming Inc. has a 1-year low of $5.06 and a 1-year high of $40.46. The stock has a market cap of $1.06 billion, a PE ratio of -8.93 and a beta of 10.39. The stock’s fifty day moving average is $6.59 and its two-hundred day moving average is $7.85.

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

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.