Short Interest in Gambling.com Group Limited (NASDAQ:GAMB) Rises By 18.4%

Gambling.com Group Limited (NASDAQ:GAMB) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 509,900 shares, an increase of 18.4% from the July 15th total of 430,500 shares. Based on an average daily trading volume, of 178,800 shares, the short-interest ratio is currently 2.9 days. Approximately 3.2% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund lifted its position in Gambling.com Group by 101.3% during the fourth quarter. New York State Common Retirement Fund now owns 8,739 shares of the company’s stock valued at $85,000 after purchasing an additional 4,398 shares during the period. Quarry LP raised its stake in Gambling.com Group by 1,997.6% during the 2nd quarter. Quarry LP now owns 12,019 shares of the company’s stock valued at $99,000 after buying an additional 11,446 shares during the last quarter. M&T Bank Corp bought a new position in shares of Gambling.com Group during the 4th quarter valued at $107,000. Hsbc Holdings PLC purchased a new position in shares of Gambling.com Group in the 2nd quarter worth $115,000. Finally, American Century Companies Inc. grew its holdings in shares of Gambling.com Group by 38.0% in the second quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock worth $128,000 after acquiring an additional 4,276 shares during the period. Hedge funds and other institutional investors own 72.26% of the company’s stock.

Gambling.com Group Stock Down 2.3 %

Shares of NASDAQ GAMB traded down $0.25 during midday trading on Friday, hitting $10.65. The stock had a trading volume of 485,648 shares, compared to its average volume of 171,384. The business’s 50 day moving average is $8.62 and its 200-day moving average is $8.70. Gambling.com Group has a 52 week low of $7.51 and a 52 week high of $14.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.01. The company has a market cap of $396.42 million, a P/E ratio of 21.73 and a beta of 0.86.

Gambling.com Group (NASDAQ:GAMB) last released its quarterly earnings data on Thursday, May 16th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Gambling.com Group had a return on equity of 23.12% and a net margin of 17.06%. The business had revenue of $29.22 million for the quarter, compared to analysts’ expectations of $28.35 million. As a group, analysts predict that Gambling.com Group will post 0.76 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on Gambling.com Group from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Truist Financial reiterated a “buy” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Gambling.com Group in a report on Friday. B. Riley reduced their target price on shares of Gambling.com Group from $14.50 to $13.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Finally, Craig Hallum lifted their price target on shares of Gambling.com Group from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Gambling.com Group currently has a consensus rating of “Buy” and an average price target of $13.25.

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.