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

Shares of Esports Entertainment Group, Inc. (NASDAQ:GMBL) fell 7.7% during trading on Wednesday . The stock traded as low as $0.72 and last traded at $0.72. 4,174 shares traded hands 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 firm’s fifty day simple moving average is $1.13 and its 200 day simple moving average is $9.21.

Esports Entertainment Group (NASDAQ:GMBL) last announced its earnings results on Wednesday, March 27th. The company reported ($64.55) EPS for the quarter. The business had revenue of $2.58 million for the quarter.

Hedge Funds Weigh In On Esports Entertainment Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG acquired a new stake in shares of Esports Entertainment Group during the first quarter worth $27,000. Bank of New York Mellon Corp lifted its holdings in shares of Esports Entertainment Group by 180.8% during the first quarter. Bank of New York Mellon Corp now owns 56,276 shares of the company’s stock worth $41,000 after buying an additional 36,236 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Esports Entertainment Group by 87.0% during the first quarter. Engineers Gate Manager LP now owns 64,184 shares of the company’s stock worth $46,000 after buying an additional 29,864 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Esports Entertainment Group by 29.0% during the first quarter. Vanguard Group Inc. now owns 303,916 shares of the company’s stock worth $220,000 after buying an additional 68,351 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Esports Entertainment Group by 458.6% during the first quarter. Renaissance Technologies LLC now owns 1,205,260 shares of the company’s stock worth $871,000 after buying an additional 989,507 shares in the last quarter. 51.37% of the stock is owned by institutional investors.

Esports Entertainment Group Company Profile

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.