Gambling.com Group (NASDAQ:GAMB) Shares Gap Up Following Better-Than-Expected Earnings

Gambling.com Group Limited (NASDAQ:GAMB) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $12.48, but opened at $13.01. Gambling.com Group shares last traded at $13.68, with a volume of 245,388 shares.

The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The company had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $35.20 million. Gambling.com Group had a return on equity of 25.06% and a net margin of 23.40%. Gambling.com Group’s revenue for the quarter was up 8.6% compared to the same quarter last year.

Analyst Ratings Changes

A number of brokerages have commented on GAMB. Jefferies Financial Group increased their price objective on shares of Gambling.com Group from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Gambling.com Group in a research report on Thursday, February 20th. Craig Hallum increased their target price on shares of Gambling.com Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, December 13th. BTIG Research boosted their price target on shares of Gambling.com Group from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald initiated coverage on Gambling.com Group in a research report on Wednesday, March 5th. They issued an “overweight” rating and a $20.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its holdings 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 worth $28,000 after purchasing an additional 1,856 shares during the period. Russell Investments Group Ltd. raised its position in Gambling.com Group by 1,968.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company’s stock worth $34,000 after buying an additional 2,303 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Gambling.com Group by 481.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,461 shares of the company’s stock worth $35,000 after acquiring an additional 2,038 shares during the period. IFP Advisors Inc purchased a new stake in shares of Gambling.com Group in the fourth quarter valued at about $49,000. Finally, MetLife Investment Management LLC increased its stake in shares of 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 acquiring an additional 6,519 shares during the period. 72.26% of the stock is currently owned by hedge funds and other institutional investors.

Gambling.com Group Stock Up 9.8 %

The firm’s fifty day moving average is $14.23 and its 200-day moving average is $12.51. The stock has a market capitalization of $509.99 million, a PE ratio of 17.50 and a beta of 0.99. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Gambling.com Group Company Profile

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.