Will Gambling.com (GAMB) be a Strong Long-Term Compounder?
ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark Russell 2000 Value Index in the third quarter. The strategy generated gains across three of the 11 sectors in which it was invested during the quarter, on an absolute basis. Sector allocation effects positively contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Small Cap Value Strategy highlighted stocks like Gambling.com Group Limited (NASDAQ:GAMB) in the third quarter 2023 investor letter. Headquartered in Saint Helier, Jersey, Gambling.com Group Limited (NASDAQ:GAMB) is a performance marketing company for the online gambling industry. On December 18, 2023, Gambling.com Group Limited (NASDAQ:GAMB) stock closed at $9.70 per share. One-month return of Gambling.com Group Limited (NASDAQ:GAMB) was -3.67%, and its shares gained 7.78% of their value over the last 52 weeks. Gambling.com Group Limited (NASDAQ:GAMB) has a market capitalization of $364.184 million.
ClearBridge Small Cap Value Strategy made the following comment about Gambling.com Group Limited (NASDAQ:GAMB) in its Q3 2023 investor letter:
"In the communication services sector, Gambling.com Group Limited (NASDAQ:GAMB) was our top individual performer. A leading provider of digital marketing services to the global online gambling industry, the company saw its stock price rise after announcing second-quarter earnings that exceeded analysts’ expectations and raising its full-year guidance, and as the football sports betting season began. Gambling.com has rapidly reached profitability in its North America lead-generation business for sports betting sites, which continues to offer compelling growth opportunities as more U.S. states legalize online gambling, while its mature European business continues to see growth from improved search engine optimization. Ultimately, we believe the company’s low marketing and capital expenditures, combined with the attractive opportunities from growth in online sports wagers, will make Gambling.com a strong long-term compounder for the portfolio."
Gambling.com Group Limited (NASDAQ:GAMB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Gambling.com Group Limited (NASDAQ:GAMB) at the end of third quarter which was 19 in the previous quarter.
We discussed Gambling.com Group Limited (NASDAQ:GAMB) in another article and shared the list of stocks with lowest short interest. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
