Traders Buy Large Volume of Call Options on Sharplink Gaming (NASDAQ:SBET)

Sharplink Gaming Inc. (NASDAQ:SBET) saw some unusual options trading on Friday. Stock traders bought 202,155 call options on the stock. Thisisanincreaseof50% compared to the typical daily volume of 134,936 call options.

Sharplink Gaming Stock Up 15.7%

SBET stock opened at $20.87 on Friday. The business’s 50-day moving average price is $18.78 and its 200-day moving average price is $12.94. Sharplink Gaming has a twelve month low of $2.26 and a twelve month high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.64) EPS for the quarter. Sharplink Gaming had a negative return on equity of 15.93% and a negative net margin of 3,377.39%.The business had revenue of $0.70 million during the quarter.

Insider Activity at Sharplink Gaming

In related news, Director Robert M. Gutkowski sold 18,334 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the sale, the director directly owned 24,998 shares of the company’s stock, valued at $479,211.66. This trade represents a 42.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Michael Delucia bought 7,440 shares of the company’s stock in a transaction on Friday, May 30th. The stock was purchased at an average cost of $6.72 per share, for a total transaction of $49,996.80. Following the completion of the transaction, the chief financial officer directly owned 14,107 shares of the company’s stock, valued at approximately $94,799.04. The trade was a 111.59% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 55,002 shares of company stock valued at $1,054,388 over the last three months. 10.50% of the stock is owned by insiders.

Institutional Trading of Sharplink Gaming

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Sharplink Gaming during the 2nd quarter valued at approximately $26,852,000. Anatole Investment Management Ltd bought a new position in shares of Sharplink Gaming during the 2nd quarter worth $6,332,000. JPMorgan Chase & Co. purchased a new stake in shares of Sharplink Gaming during the 2nd quarter worth $3,229,000. Thames Capital Management LLC purchased a new stake in shares of Sharplink Gaming during the 2nd quarter worth $1,566,000. Finally, XTX Topco Ltd lifted its stake in shares of Sharplink Gaming by 509.9% during the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock worth $1,095,000 after purchasing an additional 92,189 shares during the last quarter. Institutional investors own 13.75% 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.