$18.07 Million in Sales Expected for Esports Entertainment Group, Inc. (NASDAQ:GMBL) This Quarter

Brokerages predict that Esports Entertainment Group, Inc. (NASDAQ:GMBL – Get Rating) will report $18.07 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Esports Entertainment Group’s earnings, with estimates ranging from $17.20 million to $19.30 million. Esports Entertainment Group posted sales of $5.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 234.6%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Esports Entertainment Group will report full year sales of $70.41 million for the current year, with estimates ranging from $69.00 million to $72.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $94.87 million, with estimates ranging from $90.01 million to $100.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Esports Entertainment Group.

A number of equities analysts recently commented on GMBL shares. Roth Capital lowered Esports Entertainment Group from a “buy” rating to a “neutral” rating in a research note on Thursday, February 24th. Benchmark dropped their price target on Esports Entertainment Group from $20.00 to $4.00 and set a “speculative buy” rating on the stock in a research note on Wednesday, February 23rd. HC Wainwright dropped their price target on Esports Entertainment Group from $14.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Finally, Zacks Investment Research lowered Esports Entertainment Group from a “hold” rating to a “sell” rating in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Several large investors have recently modified their holdings of GMBL. Marshall Wace LLP raised its position in shares of Esports Entertainment Group by 372.5% during the fourth quarter. Marshall Wace LLP now owns 280,788 shares of the company’s stock worth $985,000 after purchasing an additional 221,364 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Esports Entertainment Group during the fourth quarter worth approximately $757,000. Bank of America Corp DE raised its position in shares of Esports Entertainment Group by 262.8% during the second quarter. Bank of America Corp DE now owns 68,484 shares of the company’s stock worth $744,000 after purchasing an additional 49,608 shares during the period. Millennium Management LLC raised its position in shares of Esports Entertainment Group by 411.0% during the fourth quarter. Millennium Management LLC now owns 56,957 shares of the company’s stock worth $200,000 after purchasing an additional 45,811 shares during the period. Finally, Morgan Stanley raised its position in shares of Esports Entertainment Group by 562.3% during the third quarter. Morgan Stanley now owns 50,698 shares of the company’s stock worth $340,000 after purchasing an additional 43,043 shares during the period. 12.72% of the stock is currently owned by institutional investors.

Shares of Esports Entertainment Group stock traded up $0.02 during midday trading on Friday, reaching $0.73. The company had a trading volume of 446,558 shares, compared to its average volume of 1,417,060. The stock’s fifty day moving average is $1.47. The stock has a market capitalization of $18.82 million, a price-to-earnings ratio of -0.29 and a beta of 0.93. Esports Entertainment Group has a fifty-two week low of $0.60 and a fifty-two week high of $14.39.

Esports Entertainment Group Company Profile (Get Rating)

Esports Entertainment Group, Inc operates as an online gambling platform. It offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience. It operates through the following geographical segments: Antigua, Malta, Curacao and United States.

See Also