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

Gambling.com Group Limited (NASDAQ:GAMB) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 579,800 shares, a decline of 6.9% from the August 31st total of 623,100 shares. Based on an average daily volume of 187,800 shares, the days-to-cover ratio is presently 3.1 days. Approximately 3.6% of the company’s shares are sold short.

Gambling.com Group Stock Down 0.4 %

Shares of GAMB stock traded down $0.04 on Tuesday, reaching $9.98. 56,052 shares of the stock were exchanged, compared to its average volume of 165,752. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average price is $9.79 and its 200 day moving average price is $8.95. The company has a market capitalization of $371.49 million, a price-to-earnings ratio of 20.45 and a beta of 0.86. Gambling.com Group has a twelve month low of $7.51 and a twelve month high of $14.43.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Gambling.com Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC boosted its stake in Gambling.com Group by 10.4% in the first quarter. Clearbridge Investments LLC now owns 972,250 shares of the company’s stock valued at $8,877,000 after acquiring an additional 91,799 shares in the last quarter. Yarra Square Partners LP boosted its stake in Gambling.com Group by 27.2% in the second quarter. Yarra Square Partners LP now owns 312,981 shares of the company’s stock valued at $2,573,000 after acquiring an additional 67,000 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Gambling.com Group in the fourth quarter valued at $292,000. Bank of New York Mellon Corp boosted its stake in Gambling.com Group by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 41,714 shares of the company’s stock valued at $343,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Gambling.com Group by 29.8% in the second quarter. Rhumbline Advisers now owns 21,950 shares of the company’s stock valued at $180,000 after acquiring an additional 5,043 shares in the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.

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.