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

Gambling.com Group Limited (NASDAQ:GAMB) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 579,800 shares, a decrease of 6.9% from the August 31st total of 623,100 shares. Currently, 3.6% of the company’s shares are short sold. Based on an average daily volume of 187,800 shares, the days-to-cover ratio is currently 3.1 days.

Hedge Funds Weigh In On Gambling.com Group

Large investors have recently modified their holdings of the company. Quarry LP raised its holdings in Gambling.com Group by 1,997.6% during the second quarter. Quarry LP now owns 12,019 shares of the company’s stock worth $99,000 after buying an additional 11,446 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Gambling.com Group in the 2nd quarter worth about $115,000. American Century Companies Inc. boosted its stake in Gambling.com Group by 38.0% during the 2nd quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock valued at $128,000 after purchasing an additional 4,276 shares during the last quarter. Rhumbline Advisers increased its holdings in Gambling.com Group by 29.8% during the 2nd quarter. Rhumbline Advisers now owns 21,950 shares of the company’s stock worth $180,000 after purchasing an additional 5,043 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Gambling.com Group in the fourth quarter worth approximately $292,000. 72.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GAMB shares. Craig Hallum lifted their target price on shares of Gambling.com Group from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Truist Financial reissued a “buy” rating and issued a $13.00 price objective (up from $12.00) on shares of Gambling.com Group in a research report on Friday, August 16th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Gambling.com Group has an average rating of “Buy” and an average target price of $13.25.

Gambling.com Group Price Performance

GAMB remained flat at $10.02 during midday trading on Tuesday. 99,645 shares of the company’s stock traded hands, compared to its average volume of 165,995. The stock’s 50 day simple moving average is $9.79 and its 200 day simple moving average is $8.95. Gambling.com Group has a 12-month low of $7.51 and a 12-month high of $14.43. The stock has a market cap of $372.97 million, a P/E ratio of 20.37 and a beta of 0.86. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.17.

Gambling.com Group (NASDAQ:GAMB) last issued its earnings results on Thursday, August 15th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $30.54 million during the quarter, compared to analyst estimates of $27.11 million. Gambling.com Group had a return on equity of 22.98% and a net margin of 22.13%. Research analysts predict that Gambling.com Group will post 0.79 EPS for the current 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.