Truist Financial Downgrades Gambling.com Group (NASDAQ:GAMB) to Hold

Gambling.com Group (NASDAQ:GAMB) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $11.00 price target on the stock, down from their previous price target of $17.00. Truist Financial’s price target would suggest a potential upside of 27.76% from the company’s previous close.

Other analysts have also issued reports about the stock. Jefferies Financial Group cut their price target on shares of Gambling.com Group from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, July 3rd. Wall Street Zen raised Gambling.com Group from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Gambling.com Group Stock Down 17.1%

Shares of NASDAQ:GAMB opened at $8.61 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $299.28 million, a PE ratio of 21.53 and a beta of 0.91. The firm’s 50-day moving average is $11.27 and its two-hundred day moving average is $12.53. Gambling.com Group has a 1 year low of $8.50 and a 1 year high of $17.14.

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

Hedge Funds Weigh In On Gambling.com Group

A number of institutional investors and hedge funds have recently made changes to their positions in GAMB. G2 Investment Partners Management LLC grew its position in shares of Gambling.com Group by 70.9% during the second quarter. G2 Investment Partners Management LLC now owns 1,802,443 shares of the company’s stock worth $21,431,000 after buying an additional 747,559 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Gambling.com Group in the fourth quarter valued at approximately $7,168,000. Topline Capital Management LLC acquired a new position in Gambling.com Group in the fourth quarter valued at approximately $6,700,000. Boothbay Fund Management LLC boosted its holdings in Gambling.com Group by 225.2% in the second quarter. Boothbay Fund Management LLC now owns 669,989 shares of the company’s stock valued at $7,966,000 after purchasing an additional 463,993 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in Gambling.com Group in the second quarter valued at approximately $3,635,000. 72.26% of the stock is owned by institutional investors and hedge funds.

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.