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

Gambling.com Group Limited (NASDAQ:GAMB) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 266,700 shares, a drop of 5.1% from the March 15th total of 280,900 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 144,700 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Investors Weigh In On Gambling.com Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Gambling.com Group by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,244 shares of the company’s stock valued at $185,000 after purchasing an additional 1,179 shares during the last quarter. Vanguard Group Inc. increased its holdings in Gambling.com Group by 2.3% in the third quarter. Vanguard Group Inc. now owns 57,448 shares of the company’s stock worth $751,000 after buying an additional 1,319 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Gambling.com Group by 24.1% in the second quarter. JPMorgan Chase & Co. now owns 8,500 shares of the company’s stock valued at $87,000 after acquiring an additional 1,651 shares during the last quarter. Deutsche Bank AG grew its position in Gambling.com Group by 49.7% in the first quarter. Deutsche Bank AG now owns 5,658 shares of the company’s stock worth $56,000 after acquiring an additional 1,878 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new position in shares of Gambling.com Group during the 3rd quarter worth $26,000. Hedge funds and other institutional investors own 72.26% of the company’s stock.

Gambling.com Group Stock Performance

Shares of Gambling.com Group stock opened at $8.60 on Thursday. The stock has a market cap of $320.12 million, a PE ratio of 18.30 and a beta of 0.90. Gambling.com Group has a 12 month low of $8.35 and a 12 month high of $14.83. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $8.93 and a 200-day simple moving average of $10.21.

Gambling.com Group (NASDAQ:GAMB) last released its earnings results on Thursday, March 21st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $32.53 million for the quarter, compared to analysts’ expectations of $27.63 million. Gambling.com Group had a net margin of 16.81% and a return on equity of 24.50%. On average, sell-side analysts anticipate that Gambling.com Group will post 0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded Gambling.com Group from a “b” rating to a “c” rating in a report on Monday, January 8th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gambling.com Group presently has an average rating of “Buy” and an average target price of $15.57.

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.