Gambling.com Group (NASDAQ:GAMB) Sets New 12-Month High – Here’s Why

Gambling.com Group Limited (NASDAQ:GAMB) hit a new 52-week high on Wednesday . The stock traded as high as $16.60 and last traded at $16.60, with a volume of 415 shares changing hands. The stock had previously closed at $15.95.

Analysts Set New Price Targets

A number of research firms have commented on GAMB. Macquarie lifted their target price on shares of Gambling.com Group from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. BTIG Research lifted their price objective on Gambling.com Group from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group increased their target price on Gambling.com Group from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial reissued a “buy” rating and set a $16.00 price target (up from $13.00) on shares of Gambling.com Group in a research report on Friday, November 15th. Finally, Craig Hallum increased their price objective on shares of Gambling.com Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.57.

Gambling.com Group Price Performance

The company’s 50-day simple moving average is $11.53 and its 200-day simple moving average is $9.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $577.33 million, a price-to-earnings ratio of 19.91 and a beta of 1.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GAMB. Quarry LP lifted its stake in Gambling.com Group by 1,997.6% during the second quarter. Quarry LP now owns 12,019 shares of the company’s stock worth $99,000 after purchasing an additional 11,446 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Gambling.com Group by 111.2% in the third quarter. MetLife Investment Management LLC now owns 12,384 shares of the company’s stock valued at $124,000 after buying an additional 6,519 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Gambling.com Group during the second quarter worth about $115,000. American Century Companies Inc. lifted its holdings in shares of Gambling.com Group by 38.0% in the second quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock worth $128,000 after acquiring an additional 4,276 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Gambling.com Group by 29.8% during the 2nd quarter. Rhumbline Advisers now owns 21,950 shares of the company’s stock valued at $180,000 after purchasing an additional 5,043 shares during the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.

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.