Gambling.com Group (NASDAQ:GAMB) Cut to “Hold” at Wall Street Zen

Gambling.com Group (NASDAQ:GAMB) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

GAMB has been the subject of a number of other research reports. Stifel Nicolaus dropped their price target on Gambling.com Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. BTIG Research dropped their price objective on Gambling.com Group from $19.00 to $12.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group dropped their price objective on Gambling.com Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. Finally, Truist Financial cut Gambling.com Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $17.00 to $11.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Gambling.com Group Price Performance

Gambling.com Group stock opened at $8.61 on Friday. Gambling.com Group has a one year low of $8.50 and a one year high of $17.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.06 and a current ratio of 1.06. The business has a fifty day moving average of $11.27 and a two-hundred day moving average of $12.54. The company has a market cap of $299.28 million, a P/E ratio of 21.53 and a beta of 0.91.

Gambling.com Group (NASDAQ:GAMB) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.25. Gambling.com Group had a return on equity of 38.59% and a net margin of 9.66%. The business had revenue of $39.59 million during the quarter, compared to analysts’ expectations of $38.93 million. As a group, analysts predict that Gambling.com Group will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Gambling.com Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GAMB. LPL Financial LLC grew its holdings in Gambling.com Group by 8.7% in the 4th quarter. LPL Financial LLC now owns 28,549 shares of the company’s stock valued at $402,000 after buying an additional 2,275 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Gambling.com Group by 1,631.9% in the 4th quarter. JPMorgan Chase & Co. now owns 137,201 shares of the company’s stock valued at $1,932,000 after purchasing an additional 129,279 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Gambling.com Group by 47.9% in the 4th quarter. Wells Fargo & Company MN now owns 11,300 shares of the company’s stock valued at $159,000 after purchasing an additional 3,660 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Gambling.com Group by 76.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,499 shares of the company’s stock valued at $275,000 after purchasing an additional 8,434 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Gambling.com Group by 1,968.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company’s stock valued at $34,000 after purchasing an additional 2,303 shares in the last quarter. Hedge funds and other institutional investors own 72.26% of the company’s stock.

About Gambling.com Group

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.