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

Gambling.com Group Limited (NASDAQ:GAMB - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,540,000 shares, an increase of 36.3% from the May 15th total of 1,130,000 shares. Currently, 8.2% of the shares of the company are short sold. Based on an average daily volume of 425,600 shares, the days-to-cover ratio is currently 3.6 days.

Hedge Funds Weigh In On Gambling.com Group

Several hedge funds have recently bought and sold shares of GAMB. Strs Ohio purchased a new stake in Gambling.com Group during the first quarter worth $504,000. Acadian Asset Management LLC boosted its position in shares of Gambling.com Group by 26.1% in the 1st quarter. Acadian Asset Management LLC now owns 394,841 shares of the company's stock worth $4,974,000 after buying an additional 81,836 shares in the last quarter. Jane Street Group LLC grew its stake in Gambling.com Group by 103.4% in the 1st quarter. Jane Street Group LLC now owns 83,969 shares of the company's stock valued at $1,060,000 after acquiring an additional 42,678 shares during the last quarter. PDT Partners LLC acquired a new stake in Gambling.com Group in the 1st quarter valued at about $365,000. Finally, Cubist Systematic Strategies LLC increased its holdings in Gambling.com Group by 185.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 193,686 shares of the company's stock valued at $2,444,000 after acquiring an additional 125,834 shares in the last quarter. 72.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Cantor Fitzgerald started coverage on shares of Gambling.com Group in a research note on Wednesday, March 5th. They issued an "overweight" rating and a $20.00 price objective on the stock. Benchmark reaffirmed a "buy" rating and set a $18.00 price objective on shares of Gambling.com Group in a research report on Thursday, February 20th. Macquarie lifted their target price 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. Truist Financial cut their price target on Gambling.com Group from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Gambling.com Group from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.25.

Gambling.com Group Price Performance

Gambling.com Group stock opened at $11.96 on Tuesday. The company has a market cap of $415.77 million, a P/E ratio of 15.33 and a beta of 0.95. Gambling.com Group has a one year low of $7.57 and a one year high of $17.14. The business has a fifty day moving average of $12.44 and a two-hundred day moving average of $13.44. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.27. Gambling.com Group had a net margin of 23.40% and a return on equity of 25.06%. The business had revenue of $40.64 million during the quarter, compared to the consensus estimate of $40.07 million. As a group, analysts predict that Gambling.com Group will post 0.88 earnings per share for the current fiscal year.

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.

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