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

Gambling.com Group Limited (NASDAQ:GAMB) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,080,000 shares, an increase of 20.6% from the March 15th total of 895,800 shares. Based on an average daily volume of 437,700 shares, the days-to-cover ratio is currently 2.5 days. Approximately 6.4% of the shares of the stock are sold short.

Gambling.com Group Stock Performance

Gambling.com Group stock opened at $11.97 on Monday. The company has a 50 day moving average price of $13.24 and a 200-day moving average price of $12.91. The company has a market capitalization of $416.11 million, a PE ratio of 15.35 and a beta of 1.04. Gambling.com Group has a fifty-two week low of $7.52 and a fifty-two week high of $17.14. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.03 and a current ratio of 1.03.

Gambling.com Group (NASDAQ:GAMB) last issued its earnings results on Thursday, March 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. The company had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $35.20 million. Gambling.com Group had a net margin of 23.40% and a return on equity of 25.06%. Gambling.com Group’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Gambling.com Group will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

GAMB has been the topic of a number of research reports. Macquarie boosted their target price on shares of Gambling.com Group from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Gambling.com Group in a report on Thursday, February 20th. Cantor Fitzgerald began coverage on Gambling.com Group in a report on Wednesday, March 5th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of Gambling.com Group from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $17.56.

Institutional Trading of Gambling.com Group

A number of institutional investors have recently modified their holdings of GAMB. Global Retirement Partners LLC boosted its stake in Gambling.com Group by 1,613.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,971 shares of the company’s stock valued at $28,000 after acquiring an additional 1,856 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Gambling.com Group by 1,968.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company’s stock worth $34,000 after purchasing an additional 2,303 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Gambling.com Group by 481.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,461 shares of the company’s stock worth $35,000 after buying an additional 2,038 shares during the last quarter. IFP Advisors Inc purchased a new position in Gambling.com Group during the 4th quarter worth $49,000. Finally, Quarry LP acquired a new position in Gambling.com Group during the 4th quarter valued at about $128,000. 72.26% of the stock is currently owned by institutional investors.

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.