Esports

Is Esports Entertainment Group Inc. (GMBL) A Good Stock To Buy?

Many prominent investors, including Warren Buffett, David Tepper and Stan Druckenmiller, have been cautious regarding the current bull market and missed out as the stock market reached another high in recent weeks. On the other hand, technology hedge funds weren’t timid and registered double digit market beating gains. Financials, energy and industrial stocks initially suffered the most but many of these stocks delivered strong returns since November and hedge funds actually increased their positions in these stocks. In this article we will find out how hedge fund sentiment towards Esports Entertainment Group Inc. (NASDAQ:GMBL) changed recently.

Is GMBL a good stock to buy? Esports Entertainment Group Inc. (NASDAQ:GMBL) was in 4 hedge funds’ portfolios at the end of March. The all time high for this statistic is 1. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. GMBL investors should be aware of an increase in hedge fund interest of late. There were 1 hedge funds in our database with GMBL positions at the end of the fourth quarter. Our calculations also showed that GMBL isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings).

In today’s marketplace there are numerous metrics market participants employ to analyze publicly traded companies. A pair of the most under-the-radar metrics are hedge fund and insider trading sentiment. Our experts have shown that, historically, those who follow the top picks of the best money managers can trounce their index-focused peers by a healthy amount (see the details here). Also, our monthly newsletter’s portfolio of long stock picks returned 206.8% since March 2017 (through May 2021) and beat the S&P 500 Index by more than 115 percentage points. You can download a sample issue of this newsletter on our website .

Izzy Englander of MILLENNIUM MANAGEMENT

Izzy Englander of MILLENNIUM MANAGEMENT

Israel Englander of Millennium Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, an activist hedge fund wants to buy this $28 biotech stock for $50. So, we recommended a long position to our monthly premium newsletter subscribers. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let’s take a gander at the latest hedge fund action surrounding Esports Entertainment Group Inc. (NASDAQ:GMBL).

Do Hedge Funds Think GMBL Is A Good Stock To Buy Now?

Heading into the second quarter of 2021, a total of 4 of the hedge funds tracked by Insider Monkey were bullish on this…

Izzy Englander of MILLENNIUM MANAGEMENT

Source: https://esportnewshubb.com/2021/06/19/is-esports-entertainment-group-inc-gmbl-a-good-stock-to-buy/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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