Gambling.com Group (NASDAQ:GAMB) Downgraded by Truist Financial to "Hold"

Key Points

• Truist Financial has downgraded Gambling.com Group from a "buy" rating to a "hold" rating, with a revised price objective of $11.00, down from $17.00.
• Other analysts have mixed opinions, with Jefferies reducing its target price to $18.00 and Wall Street Zen upgrading the stock to a "buy," while the average rating stands at "Moderate Buy" with a target of $16.00.
• Despite the downgrade, Gambling.com Group reported a significant earnings per share (EPS) of $0.37 for the last quarter, exceeding analysts' expectations.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) was downgraded by Truist Financial from a "buy" rating to a "hold" rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $17.00. Truist Financial's price objective points to a potential upside of 5.97% from the company's current price.

Several other research analysts have also recently commented on GAMB. Jefferies Financial Group decreased their target price on shares of Gambling.com Group from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of Gambling.com Group from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.00.

Gambling.com Group Trading Down 4.0%

GAMB opened at $10.38 on Friday. The firm's 50 day moving average is $11.34 and its 200-day moving average is $12.58. The firm has a market capitalization of $360.81 million, a P/E ratio of 10.70 and a beta of 0.91. Gambling.com Group has a 52-week low of $9.22 and a 52-week high of $17.14. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.55.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.25. Gambling.com Group had a net margin of 24.97% and a return on equity of 34.63%. The firm had revenue of $39.59 million during the quarter, compared to analyst estimates of $38.93 million. Analysts expect that Gambling.com Group will post 0.88 EPS for the current fiscal year.

Institutional Trading of Gambling.com Group

A number of institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its stake in shares of Gambling.com Group by 21,963.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,427 shares of the company's stock valued at $29,000 after purchasing an additional 2,416 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Gambling.com Group by 1,968.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company's stock valued at $34,000 after acquiring an additional 2,303 shares in the last quarter. Simplex Trading LLC lifted its holdings in Gambling.com Group by 191.0% in the 1st quarter. Simplex Trading LLC now owns 3,899 shares of the company's stock worth $49,000 after purchasing an additional 2,559 shares during the last quarter. Corsair Capital Management L.P. acquired a new position in Gambling.com Group during the second quarter valued at approximately $119,000. Finally, Quarry LP bought a new position in shares of Gambling.com Group in the fourth quarter valued at approximately $128,000. 72.26% of the stock is currently owned by institutional investors and hedge funds.

About Gambling.com Group

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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