Esports Entertainment Group, Inc. (NASDAQ:GMBL) Expected to Post Quarterly Sales of $8.59 Million

Equities research analysts expect Esports Entertainment Group, Inc. (NASDAQ:GMBL) to announce $8.59 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Esports Entertainment Group’s earnings, with the lowest sales estimate coming in at $8.38 million and the highest estimate coming in at $8.80 million. The company is scheduled to issue its next quarterly earnings report on Thursday, October 7th.

According to Zacks, analysts expect that Esports Entertainment Group will report full-year sales of $16.57 million for the current fiscal year, with estimates ranging from $16.36 million to $16.78 million. For the next financial year, analysts anticipate that the business will report sales of $97.70 million, with estimates ranging from $95.00 million to $100.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Esports Entertainment Group.

Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Esports Entertainment Group from a “hold” rating to a “strong sell” rating in a research note on Monday, September 13th. Noble Financial reaffirmed a “buy” rating and set a $15.00 price target on shares of Esports Entertainment Group in a research note on Monday, September 13th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $21.00.

NASDAQ:GMBL traded up $0.04 during trading hours on Monday, hitting $7.49. 257,252 shares of the company’s stock traded hands, compared to its average volume of 976,750. The firm has a market cap of $164.56 million, a P/E ratio of -8.23 and a beta of 0.95. Esports Entertainment Group has a 52 week low of $3.76 and a 52 week high of $24.48. The business’s fifty day simple moving average is $8.60 and its two-hundred day simple moving average is $10.94.

A number of hedge funds have recently modified their holdings of GMBL. BlackRock Inc. increased its holdings in shares of Esports Entertainment Group by 1,157.4% in the first quarter. BlackRock Inc. now owns 241,625 shares of the company’s stock worth $3,628,000 after buying an additional 222,409 shares during the period. Geode Capital Management LLC increased its holdings in shares of Esports Entertainment Group by 104.0% in the first quarter. Geode Capital Management LLC now owns 97,459 shares of the company’s stock worth $1,462,000 after buying an additional 49,684 shares during the period. Northern Trust Corp increased its holdings in shares of Esports Entertainment Group by 62.0% in the first quarter. Northern Trust Corp now owns 22,694 shares of the company’s stock worth $341,000 after buying an additional 8,686 shares during the period. Quantbot Technologies LP purchased a new position in shares of Esports Entertainment Group in the first quarter worth about $79,000. Finally, Occudo Quantitative Strategies LP increased its holdings in shares of Esports Entertainment Group by 62.0% in the first quarter. Occudo Quantitative Strategies LP now owns 24,630 shares of the company’s stock worth $370,000 after buying an additional 9,425 shares during the period. 8.77% of the stock is owned by hedge funds and other institutional investors.

Esports Entertainment Group Company Profile

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 geographic segments: Antigua, Malta, Curacao, and United States.

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