Envestnet Asset Management Inc. Increases Stake in Gambling.com Group Limited (NASDAQ:GAMB)

Envestnet Asset Management Inc. boosted its stake in Gambling.com Group Limited (NASDAQ:GAMB) by 76.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,499 shares of the company’s stock after buying an additional 8,434 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Gambling.com Group were worth $275,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Global Retirement Partners LLC boosted its position in shares of Gambling.com Group by 1,613.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,971 shares of the company’s stock valued at $28,000 after purchasing an additional 1,856 shares in the last quarter. IFP Advisors Inc purchased a new position in Gambling.com Group during the fourth quarter valued at $49,000. Quantbot Technologies LP boosted its holdings in shares of Gambling.com Group by 12,853.2% during the 4th quarter. Quantbot Technologies LP now owns 10,233 shares of the company’s stock valued at $144,000 after buying an additional 10,154 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Gambling.com Group in the 4th quarter worth about $146,000. Finally, Virtu Financial LLC purchased a new position in Gambling.com Group during the 4th quarter valued at about $146,000. 72.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Gambling.com Group in a research note on Wednesday, March 5th. They set an “overweight” rating and a $20.00 target price for the company. Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of Gambling.com Group in a research note on Thursday, February 20th. Jefferies Financial Group increased their target price on Gambling.com Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Macquarie lifted their price target on Gambling.com Group from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Finally, Truist Financial cut their price objective on shares of Gambling.com Group from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.67.

Gambling.com Group Stock Performance

Shares of NASDAQ GAMB opened at $13.24 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 1.03. Gambling.com Group Limited has a 1 year low of $7.52 and a 1 year high of $17.14. The firm has a fifty day moving average price of $12.57 and a 200-day moving average price of $13.12. The stock has a market cap of $460.26 million, a PE ratio of 16.97 and a beta of 1.04.

Gambling.com Group (NASDAQ:GAMB) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Gambling.com Group had a return on equity of 25.06% and a net margin of 23.40%. The company had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $35.20 million. Gambling.com Group’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Gambling.com Group Limited will post 0.88 earnings per share for the current fiscal year.

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.