Gambling.com Group (NASDAQ:GAMB) Trading Down 6.6% – Here’s What Happened

Gambling.com Group Limited (NASDAQ:GAMB) shares traded down 6.6% during trading on Friday . The company traded as low as $2.39 and last traded at $2.42. 864,290 shares were traded during trading, a decline of 14% from the average session volume of 1,009,166 shares. The stock had previously closed at $2.59.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Glj Research set a $7.50 price target on Gambling.com Group in a research report on Thursday, March 12th. Benchmark reaffirmed a “speculative buy” rating and set a $4.00 price target (down from $6.00) on shares of Gambling.com Group in a research report on Friday, May 15th. Stifel Nicolaus decreased their target price on Gambling.com Group from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Zacks Research upgraded Gambling.com Group to a “hold” rating in a research note on Monday, March 16th. Finally, Truist Financial reduced their price target on Gambling.com Group from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Gambling.com Group has an average rating of “Moderate Buy” and an average price target of $7.38.

Gambling.com Group Price Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $84.94 million, a PE ratio of -1.88 and a beta of 0.70. The firm has a 50-day simple moving average of $3.26 and a 200 day simple moving average of $4.24.

Gambling.com Group (NASDAQ:GAMB) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $40.44 million for the quarter, compared to analysts’ expectations of $40.21 million. Gambling.com Group had a negative net margin of 27.44% and a positive return on equity of 27.61%. As a group, equities analysts expect that Gambling.com Group Limited will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Gambling.com Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GAMB. Millennium Management LLC increased its position in Gambling.com Group by 231.9% during the 3rd quarter. Millennium Management LLC now owns 1,231,370 shares of the company’s stock valued at $10,073,000 after buying an additional 860,369 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Gambling.com Group by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 632,330 shares of the company’s stock valued at $5,173,000 after buying an additional 19,592 shares during the last quarter. Punch & Associates Investment Management Inc. raised its stake in Gambling.com Group by 1.7% during the third quarter. Punch & Associates Investment Management Inc. now owns 628,315 shares of the company’s stock valued at $5,140,000 after buying an additional 10,415 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in Gambling.com Group by 57.3% during the fourth quarter. Tocqueville Asset Management L.P. now owns 365,000 shares of the company’s stock valued at $1,993,000 after buying an additional 133,000 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Gambling.com Group by 55.2% during the third quarter. Qube Research & Technologies Ltd now owns 300,483 shares of the company’s stock valued at $2,458,000 after buying an additional 106,920 shares during the last quarter. Hedge funds and other institutional investors own 72.26% of the company’s stock.

About Gambling.com Group

Gambling.com Group is a digital performance marketing company specializing in the online gambling industry. Through a diversified portfolio of affiliate websites, the company generates leads and traffic for operators in segments such as sports betting, online casino, poker, bingo and daily fantasy sports. Its platforms offer in-depth reviews, expert guides, comparison tools and editorial content designed to help players make informed choices and drive conversions for partner brands.

The group’s service offerings include search engine optimization, pay-per-click campaigns, display advertising, email marketing and social media management.