Bank of New York Mellon Corp Increases Stock Position in Gambling.com Group Limited (NASDAQ:GAMB)

Bank of New York Mellon Corp increased its position in shares of Gambling.com Group Limited (NASDAQ:GAMB) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,714 shares of the company’s stock after buying an additional 2,090 shares during the period. Bank of New York Mellon Corp owned about 0.11% of Gambling.com Group worth $343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its stake in shares of Gambling.com Group by 10.4% during the first quarter. Clearbridge Investments LLC now owns 972,250 shares of the company’s stock valued at $8,877,000 after acquiring an additional 91,799 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Gambling.com Group by 197.7% in the second quarter. Wedge Capital Management L L P NC now owns 202,727 shares of the company’s stock valued at $1,666,000 after purchasing an additional 134,620 shares during the last quarter. Finally, Capstone Investment Advisors LLC boosted its holdings in Gambling.com Group by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 32,700 shares of the company’s stock valued at $299,000 after purchasing an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 72.26% of the company’s stock.

Gambling.com Group Stock Up 0.9 %

Shares of Gambling.com Group stock opened at $10.12 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $9.72 and a 200 day moving average price of $8.92. Gambling.com Group Limited has a fifty-two week low of $7.51 and a fifty-two week high of $14.43. The firm has a market cap of $376.70 million, a P/E ratio of 20.65 and a beta of 0.86.

Gambling.com Group (NASDAQ:GAMB) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Gambling.com Group had a return on equity of 22.98% and a net margin of 22.13%. The business had revenue of $30.54 million during the quarter, compared to the consensus estimate of $27.11 million. On average, sell-side analysts forecast that Gambling.com Group Limited will post 0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Craig Hallum lifted their price objective on Gambling.com Group from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial restated a “buy” rating and issued a $13.00 price target (up previously from $12.00) on shares of Gambling.com Group in a research note on Friday, August 16th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.25.

Gambling.com Group Profile

Gambling.com Group Limited operates as a performance marketing company for the online gambling industry worldwide. It provides digital marketing services for the iGaming and social casino products. The company's focus is on online casino, online sports betting, and fantasy sports industry. It publishes various branded websites, including Gambling.com, Casinos.com, RotoWire.com, and Bookies.com.