Short Interest in Gambling.com Group Limited (NASDAQ:GAMB) Drops By 31.7%

Key Points

• Short interest plunged 31.7% to 1,937,663 shares as of April 15, representing about 13.1% of the stock sold short and a days-to-cover ratio of 3.9.
• Shares traded around $3.91 with a market cap of $137.2M and a 12-month range of $3.51–$14.95; the company beat quarterly EPS estimates ($0.30 vs. $0.20) on $46.24M revenue but still shows a negative net margin (19.9%).
• Analysts have a consensus rating of "Moderate Buy" with a $7.63 target, and institutional investors own 72.26% of the company after notable position increases from firms like Millennium, Goldman Sachs and American Century.

Gambling.com Group Limited (NASDAQ:GAMB - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totaling 1,937,663 shares, a decline of 31.7% from the March 31st total of 2,837,140 shares. Based on an average daily trading volume, of 495,374 shares, the days-to-cover ratio is presently 3.9 days. Approximately 13.1% of the shares of the stock are sold short.

Gambling.com Group Price Performance

Gambling.com Group stock traded up $0.10 during mid-day trading on Tuesday, reaching $3.91. 305,307 shares of the company's stock traded hands, compared to its average volume of 556,010. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. Gambling.com Group has a 12-month low of $3.51 and a 12-month high of $14.95. The company has a market cap of $137.24 million, a price-to-earnings ratio of -4.12 and a beta of 0.91. The stock has a 50 day moving average of $3.97 and a two-hundred day moving average of $5.07.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.10. Gambling.com Group had a negative net margin of 19.90% and a positive return on equity of 38.87%. The business had revenue of $46.24 million for the quarter, compared to analysts' expectations of $46.06 million. Equities analysts forecast that Gambling.com Group will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GAMB shares. Zacks Research raised shares of Gambling.com Group to a "hold" rating in a research note on Monday, March 16th. Freedom Capital raised shares of Gambling.com Group to a "strong-buy" rating in a research note on Tuesday, December 30th. Stifel Nicolaus decreased their price target on shares of Gambling.com Group from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Glj Research set a $7.50 price target on shares of Gambling.com Group in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Gambling.com Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.63.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GAMB. Millennium Management LLC increased its position in Gambling.com Group by 231.9% during the third quarter. Millennium Management LLC now owns 1,231,370 shares of the company's stock valued at $10,073,000 after acquiring an additional 860,369 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in Gambling.com Group during the first quarter valued at $734,000. Prescott Group Capital Management L.L.C. bought a new position in Gambling.com Group during the fourth quarter valued at $953,000. Goldman Sachs Group Inc. increased its position in Gambling.com Group by 146.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 292,404 shares of the company's stock valued at $1,597,000 after acquiring an additional 173,933 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Gambling.com Group by 362.2% during the second quarter. American Century Companies Inc. now owns 193,669 shares of the company's stock valued at $2,303,000 after acquiring an additional 151,767 shares during the last quarter. Institutional investors own 72.26% of the company's stock.

Gambling.com Group Company Profile

Gambling.com Group is a digital performance marketing company specializing in the online gambling industry. Through a diversified portfolio of affiliate websites, the company generates leads and traffic for operators in segments such as sports betting, online casino, poker, bingo and daily fantasy sports. Its platforms offer in-depth reviews, expert guides, comparison tools and editorial content designed to help players make informed choices and drive conversions for partner brands.

The group's service offerings include search engine optimization, pay-per-click campaigns, display advertising, email marketing and social media management.

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