Informed Momentum Co LLC Has $455,000 Holdings in Gambling.com Group Limited (NASDAQ:GAMB)

Key Points

• Informed Momentum Co LLC reduced its holdings in Gambling.com Group Limited by 49.5% during Q1, ending with approximately $455,000 in value.
• Several hedge funds increased their positions in Gambling.com, with Russell Investments raising its holdings by 1,968.4% in the previous quarter.
• Analysts have a consensus buy rating for Gambling.com Group, with a revised average price target of $17.88, down from previous targets.

Informed Momentum Co LLC cut its holdings in Gambling.com Group Limited (NASDAQ:GAMB - Free Report) by 49.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,083 shares of the company's stock after selling 35,384 shares during the period. Informed Momentum Co LLC owned about 0.10% of Gambling.com Group worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Gambling.com Group by 1,968.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company's stock valued at $34,000 after purchasing an additional 2,303 shares during the last quarter. Simplex Trading LLC raised its holdings in shares of Gambling.com Group by 191.0% in the first quarter. Simplex Trading LLC now owns 3,899 shares of the company's stock valued at $49,000 after purchasing an additional 2,559 shares during the last quarter. Quarry LP acquired a new stake in shares of Gambling.com Group in the fourth quarter valued at approximately $128,000. Nebula Research & Development LLC acquired a new position in Gambling.com Group during the fourth quarter worth $147,000. Finally, Jump Financial LLC acquired a new position in Gambling.com Group during the fourth quarter worth $153,000. 72.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Gambling.com Group from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, July 3rd. Truist Financial lowered their target price 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. Finally, Wall Street Zen upgraded shares of Gambling.com Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $17.88.

Gambling.com Group Price Performance

Shares of GAMB opened at $10.81 on Thursday. The firm has a market capitalization of $375.76 million, a PE ratio of 11.14 and a beta of 0.91. The company's 50-day moving average is $11.36 and its 200-day moving average is $12.60. Gambling.com Group Limited has a fifty-two week low of $8.70 and a fifty-two week high of $17.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.06 and a quick ratio of 1.06.

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

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.

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