Tocqueville Asset Management L.P. Purchases 65,000 Shares of Gambling.com Group Limited $GAMB

Key Points

• Tocqueville Asset Management L.P. increased its stake in Gambling.com Group by 50%, acquiring an additional 65,000 shares during the first quarter, bringing its total holdings to 195,000 shares worth approximately $2.46 million.
• Gambling.com Group reported earnings per share of $0.37 for the last quarter, significantly exceeding the consensus estimate of $0.12, while revenue also surpassed expectations at $39.59 million.
• Analysts have adjusted their target prices for Gambling.com Group, with some downgrading their ratings; the average target price is now set at $16.00, down from previous estimates.

Tocqueville Asset Management L.P. lifted its holdings in shares of Gambling.com Group Limited (NASDAQ:GAMB - Free Report) by 50.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,000 shares of the company's stock after acquiring an additional 65,000 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.56% of Gambling.com Group worth $2,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp raised its holdings in Gambling.com Group by 0.9% in the fourth quarter. Northern Trust Corp now owns 109,928 shares of the company's stock worth $1,548,000 after purchasing an additional 1,003 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Gambling.com Group by 1.7% in the fourth quarter. Ameriprise Financial Inc. now owns 120,007 shares of the company's stock worth $1,690,000 after purchasing an additional 2,017 shares in the last quarter. LPL Financial LLC raised its holdings in Gambling.com Group by 8.7% in the fourth quarter. LPL Financial LLC now owns 28,549 shares of the company's stock worth $402,000 after purchasing an additional 2,275 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in 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 worth $34,000 after purchasing an additional 2,303 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Gambling.com Group by 5.9% in the first quarter. American Century Companies Inc. now owns 41,902 shares of the company's stock worth $529,000 after purchasing an additional 2,352 shares in the last quarter. Institutional investors own 72.26% of the company's stock.

Gambling.com Group Stock Up 3.0%

Shares of NASDAQ:GAMB traded up $0.25 on Friday, hitting $8.55. 735,869 shares of the company traded hands, compared to its average volume of 837,915. Gambling.com Group Limited has a 52 week low of $8.27 and a 52 week high of $17.14. The company has a quick ratio of 1.06, a current ratio of 0.59 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $12.34. The company has a market cap of $305.32 million, a PE ratio of 21.38 and a beta of 0.91.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.25. Gambling.com Group had a return on equity of 38.04% and a net margin of 9.66%.The firm had revenue of $39.59 million during the quarter, compared to the consensus estimate of $38.93 million. Gambling.com Group has set its FY 2025 guidance at EPS. As a group, research analysts expect that Gambling.com Group Limited will post 0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GAMB. Wall Street Zen downgraded Gambling.com Group from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Truist Financial downgraded Gambling.com Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $17.00 to $11.00 in a report on Friday, August 15th. Stifel Nicolaus decreased their price objective on Gambling.com Group from $18.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 15th. Jefferies Financial Group decreased their price objective on Gambling.com Group from $18.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 15th. Finally, BTIG Research cut their target price on Gambling.com Group from $19.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

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.