Citigroup Inc. Invests $27.56 Million in Sharplink Gaming Inc. $SBET

Citigroup Inc. acquired a new stake in Sharplink Gaming Inc. (NASDAQ:SBET) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,620,203 shares of the company’s stock, valued at approximately $27,560,000. Citigroup Inc. owned 0.84% of Sharplink Gaming as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new stake in shares of Sharplink Gaming during the 3rd quarter valued at approximately $46,447,000. Marshall Wace LLP purchased a new position in Sharplink Gaming in the 2nd quarter valued at approximately $26,852,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Sharplink Gaming in the 3rd quarter valued at approximately $30,812,000. APEIRON CAPITAL Ltd acquired a new position in Sharplink Gaming during the third quarter worth $23,038,000. Finally, Anatole Investment Management Ltd purchased a new stake in Sharplink Gaming during the second quarter worth $6,332,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Sharplink Gaming Price Performance

NASDAQ:SBET opened at $7.44 on Thursday. The firm has a market cap of $1.46 billion, a PE ratio of -3.11 and a beta of 11.28. The firm has a 50 day simple moving average of $8.72 and a 200-day simple moving average of $12.70. Sharplink Gaming Inc. has a 1-year low of $2.26 and a 1-year high of $124.12.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald began coverage on Sharplink Gaming in a research report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target for the company. B. Riley Financial cut their target price on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Sanford C. Bernstein began coverage on shares of Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 price objective for the company. Finally, iA Financial set a $20.00 target price on Sharplink Gaming in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.14.

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.