Traders Purchase High Volume of Sharplink Gaming Call Options (NASDAQ:SBET)

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

Insider Buying and Selling

In related news, Director Obie Mckenzie sold 18,334 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $19.17, for a total value of $351,462.78. Following the completion of the transaction, the director directly owned 24,998 shares of the company’s stock, valued at approximately $479,211.66. This trade represents a 42.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Michael Delucia acquired 7,440 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was acquired at an average cost of $6.72 per share, with a total value of $49,996.80. Following the completion of the acquisition, the chief financial officer owned 14,107 shares in the company, valued at $94,799.04. This trade represents a 111.59% increase in their position. The disclosure for this purchase can be found here. Insiders sold 55,002 shares of company stock worth $1,054,388 in the last 90 days. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sharplink Gaming

A number of large investors have recently modified their holdings of SBET. Marshall Wace LLP purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at about $26,852,000. Anatole Investment Management Ltd purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at about $6,332,000. JPMorgan Chase & Co. purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at about $3,229,000. Thames Capital Management LLC purchased a new position in shares of Sharplink Gaming during the 2nd quarter valued at about $1,566,000. Finally, XTX Topco Ltd raised its holdings 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 valued at $1,095,000 after buying an additional 92,189 shares in the last quarter. 13.75% of the stock is owned by hedge funds and other institutional investors.

Sharplink Gaming Stock Up 15.7%

Shares of NASDAQ:SBET opened at $20.87 on Friday. The company has a 50 day moving average of $18.78 and a 200 day moving average of $12.94. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12.

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

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.