Gambling.com Group Limited (NASDAQ:GAMB) Short Interest Down 21.9% in August

Key Points

• Short interest in Gambling.com Group Limited dropped by 21.9% in August, with approximately 1,680,000 shares short sold, representing about 8.5% of the company's total shares.
• Wall Street analysts have shown mixed sentiments, with several downgrading price targets; the average rating for the stock is a "Moderate Buy" with a consensus target price of $16.00.
• The company reported a strong quarterly performance, beating earnings expectations with an EPS of $0.37, and guidance for FY 2025 anticipates an EPS of 0.88.

Gambling.com Group Limited (NASDAQ:GAMB - Get Free Report) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 1,680,000 shares, a drop of 21.9% from the August 15th total of 2,150,000 shares. Currently, 8.5% of the company's shares are sold short. Based on an average daily volume of 561,400 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily volume of 561,400 shares, the days-to-cover ratio is currently 3.0 days. Currently, 8.5% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GAMB. Jefferies Financial Group decreased their price target on shares of Gambling.com Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Stifel Nicolaus decreased their price target on shares of Gambling.com Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 15th. BTIG Research decreased their price target on shares of Gambling.com Group from $19.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Truist Financial lowered shares of Gambling.com Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $17.00 to $11.00 in a report on Friday, August 15th. Finally, Zacks Research downgraded Gambling.com Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

Gambling.com Group Price Performance

GAMB stock traded down $0.05 on Friday, hitting $8.26. 726,917 shares of the company's stock traded hands, compared to its average volume of 594,719. Gambling.com Group has a 1-year low of $7.93 and a 1-year high of $17.14. The stock has a market cap of $294.96 million, a price-to-earnings ratio of 5.78 and a beta of 0.89. The stock has a fifty day moving average of $9.49 and a 200-day moving average of $11.37. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.57.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.12 by $0.25. The business had revenue of $39.59 million during the quarter, compared to analyst estimates of $38.93 million. Gambling.com Group had a net margin of 9.66% and a return on equity of 38.04%. Gambling.com Group has set its FY 2025 guidance at EPS. On average, analysts forecast that Gambling.com Group will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GAMB. G2 Investment Partners Management LLC increased its stake in shares of Gambling.com Group by 70.9% during the 2nd quarter. G2 Investment Partners Management LLC now owns 1,802,443 shares of the company's stock worth $21,431,000 after purchasing an additional 747,559 shares during the last quarter. Boothbay Fund Management LLC grew its stake in Gambling.com Group by 225.2% in the 2nd quarter. Boothbay Fund Management LLC now owns 669,989 shares of the company's stock valued at $7,966,000 after buying an additional 463,993 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in Gambling.com Group in the 2nd quarter valued at $3,635,000. Driehaus Capital Management LLC grew its stake in Gambling.com Group by 47.4% in the 1st quarter. Driehaus Capital Management LLC now owns 750,454 shares of the company's stock valued at $9,471,000 after buying an additional 241,386 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Gambling.com Group by 362.2% in the 2nd quarter. American Century Companies Inc. now owns 193,669 shares of the company's stock valued at $2,303,000 after buying an additional 151,767 shares during the last quarter. Institutional investors and hedge funds own 72.26% of the company's stock.

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.