Short Interest in Gambling.com Group Limited (NASDAQ:GAMB) Increases By 20.6%

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

Institutional Trading of Gambling.com Group

A number of hedge funds have recently made changes to their positions in GAMB. Global Retirement Partners LLC increased 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 during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Gambling.com Group by 1,968.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company’s stock valued at $34,000 after buying an additional 2,303 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Gambling.com Group by 481.8% in 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 stake in Gambling.com Group in the fourth quarter worth approximately $49,000. Finally, Quarry LP bought a new position in Gambling.com Group during the fourth quarter valued at approximately $128,000. 72.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Gambling.com Group Price Performance

Shares of NASDAQ GAMB opened at $12.03 on Wednesday. The stock’s 50-day simple moving average is $13.07 and its two-hundred day simple moving average is $12.91. Gambling.com Group has a twelve month low of $7.52 and a twelve month high of $17.14. The firm has a market capitalization of $418.20 million, a P/E ratio of 15.42 and a beta of 1.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

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