The Divisional Officer of Enthusiast Gaming Holdings (NASDAQ: EGLX) is Buying Shares

By Carrie Williams

Today, the Divisional Officer of Enthusiast Gaming Holdings (EGLXResearch Report), Eric Bernofsky, bought shares of EGLX for $27.43K.

This recent transaction increases Eric Bernofsky’s holding in the company by 1% to a total of $2.47 million. In addition to Eric Bernofsky, one other EGLX executive reported Buy trades in the last month.

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Based on Enthusiast Gaming Holdings’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $37.06 million and GAAP net loss of -$12,761,921. In comparison, last year the company earned revenue of $7.03 million and had a GAAP net loss of $6.35 million. The company has a one-year high of $8.88 and a one-year low of $1.04. Currently, Enthusiast Gaming Holdings has an average volume of 322.47K.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $9.76, reflecting a -59.2% downside. Starting in November 2020, EGLX received 22 Buy ratings in a row. Three different firms, including Colliers Securities and Scotiabank, currently also have a Buy rating on the stock.

The insider sentiment on Enthusiast Gaming Holdings has been neutral according to 12 insider trades in the past three months. This sentiment is higher than the average sentiment of company insiders in this sector.

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Enthusiast Gaming Holdings Inc is a gaming company building authentic lifestyle gamers. It has an online network of over 80, owned and affiliated, gaming related websites and a network of 900 YouTube channels reaching 150 million visitors. It also owns and operates Canada’s video-gaming expo, Enthusiast Gaming Live Expo “EGLX”. Its products and services fall into three principal segments: content, advertising and events.