Zacks Research Downgrades Gambling.com Group (NASDAQ:GAMB) to Strong Sell

Gambling.com Group (NASDAQ:GAMB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms also recently weighed in on GAMB. Benchmark restated a “speculative buy” rating and set a $4.00 target price (down from $6.00) on shares of Gambling.com Group in a report on Friday, May 15th. Stifel Nicolaus lowered their price target on shares of Gambling.com Group from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Truist Financial dropped their price objective on shares of Gambling.com Group from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, March 12th. Glj Research set a $7.50 price objective on shares of Gambling.com Group in a research note on Thursday, March 12th. Finally, Jefferies Financial Group cut their price objective on Gambling.com Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Gambling.com Group presently has a consensus rating of “Hold” and an average target price of $7.38.

Gambling.com Group Stock Down 3.0%

Gambling.com Group stock opened at $1.94 on Monday. Gambling.com Group has a fifty-two week low of $1.89 and a fifty-two week high of $12.18. The firm has a market capitalization of $68.09 million, a price-to-earnings ratio of -1.50 and a beta of 0.73. The stock’s fifty day moving average is $2.73 and its two-hundred day moving average is $3.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.31 and a current ratio of 1.31.

Gambling.com Group (NASDAQ:GAMB) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.06). Gambling.com Group had a positive return on equity of 27.61% and a negative net margin of 27.44%.The firm had revenue of $40.44 million for the quarter, compared to analyst estimates of $40.21 million. Analysts predict that Gambling.com Group will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Gambling.com Group

Several hedge funds have recently modified their holdings of GAMB. Tower Research Capital LLC TRC raised its position in shares of Gambling.com Group by 653.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,254 shares of the company’s stock valued at $62,000 after buying an additional 4,557 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Gambling.com Group during the fourth quarter worth approximately $65,000. Deutsche Bank AG grew its stake in Gambling.com Group by 3,262.2% in the 4th quarter. Deutsche Bank AG now owns 12,978 shares of the company’s stock worth $71,000 after acquiring an additional 12,592 shares during the period. HRT Financial LP acquired a new position in Gambling.com Group in the 4th quarter valued at $88,000. Finally, Royal Bank of Canada raised its holdings in Gambling.com Group by 827.6% in the 1st quarter. Royal Bank of Canada now owns 25,185 shares of the company’s stock valued at $98,000 after acquiring an additional 22,470 shares during the last quarter. 72.26% of the stock is owned by institutional investors and hedge funds.

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.