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

Gambling.com Group Limited (NASDAQ:GAMB) shares 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

Several equities research analysts recently weighed in on the company. Macquarie upped their price target on Gambling.com Group from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Truist Financial reaffirmed a “buy” rating and issued a $16.00 target price (up from $13.00) on shares of Gambling.com Group in a research report on Friday, November 15th. Jefferies Financial Group lifted their price target on shares of Gambling.com Group from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus boosted their price objective 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. Finally, BTIG Research raised their target price on shares of Gambling.com Group from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $16.57.

Gambling.com Group Price Performance

The firm’s fifty day simple moving average is $11.30 and its 200-day simple moving average is $9.86. The firm has a market capitalization of $576.96 million, a PE ratio of 19.87 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP boosted its position in shares of Gambling.com Group by 1,997.6% during the second quarter. Quarry LP now owns 12,019 shares of the company’s stock valued at $99,000 after buying an additional 11,446 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Gambling.com Group by 111.2% during the 3rd quarter. MetLife Investment Management LLC now owns 12,384 shares of the company’s stock valued at $124,000 after acquiring an additional 6,519 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Gambling.com Group in the second quarter worth approximately $115,000. American Century Companies Inc. raised its holdings in shares of Gambling.com Group by 38.0% during the second quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock valued at $128,000 after purchasing an additional 4,276 shares during the last quarter. Finally, Rhumbline Advisers lifted 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 valued at $180,000 after purchasing an additional 5,043 shares during the period. Hedge funds and other institutional investors 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.