Gambling.com Group Limited (NASDAQ:GAMB) Sees Large Growth in Short Interest

Gambling.com Group Limited (NASDAQ:GAMB) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 651,100 shares, a growth of 12.3% from the September 15th total of 579,800 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average daily volume of 175,800 shares, the days-to-cover ratio is presently 3.7 days.

Gambling.com Group Price Performance

Shares of NASDAQ GAMB traded down $0.08 during midday trading on Thursday, hitting $9.91. The stock had a trading volume of 8,711 shares, compared to its average volume of 161,252. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $9.93 and a 200-day simple moving average of $9.02. The company has a market capitalization of $368.88 million, a PE ratio of 20.39 and a beta of 0.85. Gambling.com Group has a 1 year low of $7.51 and a 1 year high of $13.88.

Gambling.com Group (NASDAQ:GAMB) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $30.54 million for the quarter, compared to analyst estimates of $27.11 million. Gambling.com Group had a return on equity of 22.98% and a net margin of 22.13%. On average, sell-side analysts expect that Gambling.com Group will post 0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on GAMB shares. Craig Hallum lifted their price target on Gambling.com Group from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Truist Financial reiterated a “buy” rating and set a $13.00 price objective (up previously from $12.00) on shares of Gambling.com Group in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quarry LP increased 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 period. Gabelli Funds LLC increased its stake in Gambling.com Group by 4.2% during the 2nd quarter. Gabelli Funds LLC now owns 32,000 shares of the company’s stock worth $263,000 after buying an additional 1,300 shares during the period. Yarra Square Partners LP boosted its position in Gambling.com Group by 27.2% in the 2nd quarter. Yarra Square Partners LP now owns 312,981 shares of the company’s stock valued at $2,573,000 after buying an additional 67,000 shares during the period. Hsbc Holdings PLC acquired a new position in Gambling.com Group during the 2nd quarter worth $115,000. Finally, Renaissance Technologies LLC lifted its position in shares of Gambling.com Group by 4.2% during the 2nd quarter. Renaissance Technologies LLC now owns 298,800 shares of the company’s stock worth $2,456,000 after purchasing an additional 12,000 shares during the last quarter. 72.26% of the stock is currently owned by institutional investors and hedge funds.

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.