Traders Buy High Volume of Gambling.com Group Call Options (NASDAQ:GAMB)

Key Points

• Unusually heavy options activity hit Gambling.com Group, with traders buying 5,025 call options on Monday—about 2,259% above the normal volume of 213.
• The stock also saw surging trading volume, with 6.68 million shares changing hands as GAMB rose to $4.76, above its average volume of 607,891 shares.
• Recent analyst sentiment remains mixed but generally constructive, with a consensus rating of “Moderate Buy” and an average price target of $7.63; the company also recently beat quarterly EPS estimates.

Gambling.com Group Limited (NASDAQ:GAMB - Get Free Report) was the recipient of unusually large options trading activity on Monday. Traders bought 5,025 call options on the stock. This represents an increase of approximately 2,259% compared to the typical volume of 213 call options.

Institutional Trading of Gambling.com Group

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

Analyst Upgrades and Downgrades

Several research firms recently commented on GAMB. Glj Research set a $7.50 price objective on shares of Gambling.com Group in a research note on Thursday, March 12th. Stifel Nicolaus reduced their price objective on shares of Gambling.com Group from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Thursday, April 9th. Zacks Research raised Gambling.com Group to a "hold" rating in a report on Monday, March 16th. Weiss Ratings reissued a "sell (d+)" rating on shares of Gambling.com Group in a report on Thursday, January 22nd. Finally, Benchmark lowered their price target on Gambling.com Group from $7.00 to $6.00 and set a "buy" rating for the company in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Gambling.com Group currently has an average rating of "Moderate Buy" and a consensus target price of $7.63.

Gambling.com Group Stock Performance

Shares of NASDAQ:GAMB traded up $0.25 on Monday, hitting $4.76. 6,680,289 shares of the company were exchanged, compared to its average volume of 607,891. Gambling.com Group has a 1-year low of $3.51 and a 1-year high of $14.95. The stock's 50 day moving average price is $3.94 and its 200 day moving average price is $4.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $167.18 million, a P/E ratio of -5.03 and a beta of 0.83.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.30 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $46.06 million. Sell-side analysts predict that Gambling.com Group will post 0.32 EPS for the current year.

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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