Esports Entertainment Group (NASDAQ:GMBL) Shares Down 7.7%

Esports Entertainment Group, Inc. (NASDAQ:GMBL) shares fell 7.7% during trading on Wednesday . The company traded as low as $0.72 and last traded at $0.72. 4,174 shares were traded during trading, a decline of 98% from the average session volume of 251,281 shares. The stock had previously closed at $0.78.

Esports Entertainment Group Stock Performance

The stock has a 50-day simple moving average of $1.13 and a 200 day simple moving average of $9.21.

Esports Entertainment Group (NASDAQ:GMBL) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($64.55) earnings per share (EPS) for the quarter. The firm had revenue of $2.58 million during the quarter.

Institutional Investors Weigh In On Esports Entertainment Group

Several large investors have recently bought and sold shares of GMBL. UBS Group AG purchased a new stake in shares of Esports Entertainment Group in the first quarter valued at approximately $27,000. Bank of New York Mellon Corp grew its position in shares of Esports Entertainment Group by 180.8% in the first quarter. Bank of New York Mellon Corp now owns 56,276 shares of the company’s stock valued at $41,000 after purchasing an additional 36,236 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of Esports Entertainment Group by 87.0% in the first quarter. Engineers Gate Manager LP now owns 64,184 shares of the company’s stock valued at $46,000 after purchasing an additional 29,864 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Esports Entertainment Group by 29.0% in the first quarter. Vanguard Group Inc. now owns 303,916 shares of the company’s stock valued at $220,000 after purchasing an additional 68,351 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Esports Entertainment Group by 458.6% in the first quarter. Renaissance Technologies LLC now owns 1,205,260 shares of the company’s stock valued at $871,000 after acquiring an additional 989,507 shares during the last quarter. 51.37% of the stock is currently owned by hedge funds and other institutional investors.

About Esports Entertainment Group

Esports Entertainment Group, Inc operates as an iGaming and entertainment company in the United States and internationally. It operates through two segments, EEG iGaming and EEG Games. The EEG iGaming segment operates iDefix, a casino platform. The EEG Games segment operates ggCircuit, a local area network center management software and services for managing mission critical functions, such as game licensing and payments; and creates esports content for distribution to the betting industry.