Gambling.com Group (NASDAQ:GAMB) Shares Gap Down – Here’s Why

Gambling.com Group Limited (NASDAQ:GAMB)’s share price gapped down prior to trading on Friday . The stock had previously closed at $15.63, but opened at $14.72. Gambling.com Group shares last traded at $14.53, with a volume of 140,604 shares trading hands.

Wall Street Analysts Forecast Growth

GAMB has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Gambling.com Group from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday. BTIG Research lifted their price target on shares of Gambling.com Group from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial reiterated a “buy” rating and set a $16.00 price target (up from $13.00) on shares of Gambling.com Group in a research note on Friday, November 15th. Macquarie lifted their price target on shares of Gambling.com Group from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus lifted their price target on shares of Gambling.com Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $16.57.

Gambling.com Group Trading Down 4.4 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $556.44 million, a price-to-earnings ratio of 18.85 and a beta of 1.02. The business’s 50-day simple moving average is $11.19 and its 200-day simple moving average is $9.79.

Hedge Funds Weigh In On Gambling.com Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its position in Gambling.com Group by 1,997.6% during the second quarter. Quarry LP now owns 12,019 shares of the company’s stock worth $99,000 after purchasing an additional 11,446 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Gambling.com Group during the second quarter worth approximately $115,000. MetLife Investment Management LLC increased its position in Gambling.com Group by 111.2% during the third quarter. MetLife Investment Management LLC now owns 12,384 shares of the company’s stock worth $124,000 after purchasing an additional 6,519 shares during the last quarter. American Century Companies Inc. increased its position in Gambling.com Group by 38.0% during the second quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock worth $128,000 after purchasing an additional 4,276 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Gambling.com Group by 29.8% during the second quarter. Rhumbline Advisers now owns 21,950 shares of the company’s stock worth $180,000 after purchasing an additional 5,043 shares during the last quarter. Institutional investors and hedge funds 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.