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

Gambling.com Group Limited (NASDAQ:GAMB) shares gapped down before the market opened 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 traded.

Analysts Set New Price Targets

GAMB has been the subject of several research reports. Macquarie boosted their price objective 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. Stifel Nicolaus upped their price target on shares of Gambling.com Group from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday, November 15th. Craig Hallum raised their price target on shares of Gambling.com Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial restated a “buy” rating and issued a $16.00 price target (up from $13.00) on shares of Gambling.com Group in a research report on Friday, November 15th. Finally, BTIG Research raised 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 report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.57.

Gambling.com Group Price Performance

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

Institutional Investors Weigh In On Gambling.com Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP increased its stake in shares of Gambling.com Group by 1,997.6% in the 2nd quarter. Quarry LP now owns 12,019 shares of the company’s stock valued at $99,000 after acquiring an additional 11,446 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Gambling.com Group in the 2nd quarter valued at about $115,000. MetLife Investment Management LLC increased its stake in shares of Gambling.com Group by 111.2% in 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. American Century Companies Inc. increased its stake in shares of Gambling.com Group by 38.0% in the 2nd quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock valued at $128,000 after acquiring an additional 4,276 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Gambling.com Group by 29.8% during the 2nd quarter. Rhumbline Advisers now owns 21,950 shares of the company’s stock worth $180,000 after purchasing an additional 5,043 shares in the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.

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.