Bastion Asset Management Inc. Purchases Shares of 66,267 Gambling.com Group Limited (NASDAQ:GAMB)

Key Points

• Bastion Asset Management Inc. acquired 66,267 shares of Gambling.com Group Limited for approximately $833,000, representing a 0.19% stake in the company.
• The company reported a net margin of 24.97% and an earnings per share of $0.46, exceeding analysts' expectations of $0.19.
• A majority of institutional investors own 72.26% of Gambling.com Group's stock, with several firms boosting their positions in the first quarter of this year.

Bastion Asset Management Inc. purchased a new stake in shares of Gambling.com Group Limited (NASDAQ:GAMB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 66,267 shares of the company's stock, valued at approximately $833,000. Bastion Asset Management Inc. owned about 0.19% of Gambling.com Group at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Wakefield Asset Management LLLP boosted its position in Gambling.com Group by 6.4% during the first quarter. Wakefield Asset Management LLLP now owns 74,508 shares of the company's stock valued at $940,000 after acquiring an additional 4,454 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Gambling.com Group during the 1st quarter valued at $554,000. Summit Trail Advisors LLC acquired a new position in shares of Gambling.com Group during the 1st quarter valued at $177,000. Public Employees Retirement System of Ohio acquired a new position in shares of Gambling.com Group during the 4th quarter valued at $197,000. Finally, AWM Investment Company Inc. lifted its position in shares of Gambling.com Group by 9.8% during the 4th quarter. AWM Investment Company Inc. now owns 1,517,259 shares of the company's stock valued at $21,363,000 after acquiring an additional 135,000 shares during the period. Institutional investors own 72.26% of the company's stock.

Gambling.com Group Stock Up 1.1%

Gambling.com Group stock opened at $10.90 on Friday. Gambling.com Group Limited has a 1-year low of $8.49 and a 1-year high of $17.14. The firm has a market capitalization of $378.88 million, a price-to-earnings ratio of 11.24 and a beta of 0.93. The firm's fifty day moving average price is $11.79 and its two-hundred day moving average price is $12.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.55.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.27. Gambling.com Group had a net margin of 24.97% and a return on equity of 34.63%. The firm had revenue of $40.64 million for the quarter, compared to analyst estimates of $40.07 million. On average, equities research analysts predict that Gambling.com Group Limited will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GAMB shares. Truist Financial dropped their price objective on shares of Gambling.com Group from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised Gambling.com Group from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Jefferies Financial Group decreased their target price on Gambling.com Group from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, July 3rd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $17.88.

Gambling.com Group 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.

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