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

Gambling.com Group Limited (NASDAQ:GAMB) was the recipient of a significant growth in short interest during the month of 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. Based on an average daily volume of 175,800 shares, the days-to-cover ratio is presently 3.7 days. Approximately 4.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GAMB. 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 report on Friday, August 16th. Craig Hallum boosted their target price on shares of Gambling.com Group from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Gambling.com Group has an average rating of “Buy” and an average price target of $13.25.

Institutional Trading of Gambling.com Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC grew its stake in shares of Gambling.com Group by 197.7% during the second quarter. Wedge Capital Management L L P NC now owns 202,727 shares of the company’s stock valued at $1,666,000 after buying an additional 134,620 shares during the last quarter. Clearbridge Investments LLC grew its position in Gambling.com Group by 10.4% in the 1st 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 during the last quarter. Yarra Square Partners LP grew 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 acquiring an additional 67,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Gambling.com Group by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 398,016 shares of the company’s stock valued at $3,272,000 after acquiring an additional 47,843 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Gambling.com Group in the second quarter worth $115,000. 72.26% of the stock is owned by hedge funds and other institutional investors.

Gambling.com Group Trading Down 0.2 %

Shares of NASDAQ GAMB traded down $0.02 during trading hours on Tuesday, hitting $9.86. 20,540 shares of the company traded hands, compared to its average volume of 161,728. The stock has a market capitalization of $367.02 million, a price-to-earnings ratio of 20.16 and a beta of 0.85. The company’s 50 day moving average price is $9.89 and its 200 day moving average price is $9.01. Gambling.com Group has a 12 month low of $7.51 and a 12 month high of $13.88. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.17.

Gambling.com Group (NASDAQ:GAMB) last posted 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 business had revenue of $30.54 million for the quarter, compared to analysts’ expectations of $27.11 million. Gambling.com Group had a net margin of 22.13% and a return on equity of 22.98%. On average, equities research analysts anticipate that Gambling.com Group will post 0.79 earnings per share for the current fiscal year.

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.