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

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

Several other research analysts have also commented on GAMB. Wall Street Zen raised Gambling.com Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Truist Financial cut their target price on Gambling.com Group from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. Benchmark reiterated a “speculative buy” rating and issued a $4.00 target price (down from $6.00) on shares of Gambling.com Group in a report on Friday, May 15th. Jefferies Financial Group decreased their price target on shares of 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. Finally, 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 report on Thursday, April 9th. One 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.38.

Gambling.com Group Price Performance

NASDAQ GAMB opened at $1.94 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.31 and a current ratio of 1.31. The firm’s 50 day moving average price is $2.73 and its 200-day moving average price is $3.84. Gambling.com Group has a 52-week low of $1.89 and a 52-week high of $12.18. The company has a market cap of $68.09 million, a PE ratio of -1.50 and a beta of 0.73.

Gambling.com Group (NASDAQ:GAMB) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). The business had revenue of $40.44 million during the quarter, compared to the consensus estimate of $40.21 million. Gambling.com Group had a positive return on equity of 27.61% and a negative net margin of 27.44%. Sell-side analysts forecast that Gambling.com Group will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Gambling.com Group by 231.9% in the third quarter. Millennium Management LLC now owns 1,231,370 shares of the company’s stock worth $10,073,000 after acquiring an additional 860,369 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Gambling.com Group by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 632,330 shares of the company’s stock valued at $5,173,000 after purchasing an additional 19,592 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of Gambling.com Group by 1.7% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 628,315 shares of the company’s stock valued at $5,140,000 after purchasing an additional 10,415 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in Gambling.com Group by 57.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 365,000 shares of the company’s stock worth $1,993,000 after purchasing an additional 133,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Gambling.com Group by 55.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 300,483 shares of the company’s stock worth $2,458,000 after purchasing an additional 106,920 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.