Short Interest in Gambling.com Group Limited (NASDAQ:GAMB) Declines By 51.8%

Gambling.com Group Limited (NASDAQ:GAMB) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 987,933 shares, a drop of 51.8% from the June 15th total of 2,048,920 shares. Approximately 6.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 915,471 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its position in Gambling.com Group by 103.4% during the 1st quarter. Jane Street Group LLC now owns 83,969 shares of the company’s stock worth $1,060,000 after buying an additional 42,678 shares during the period. Geode Capital Management LLC grew its holdings in Gambling.com Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 215,084 shares of the company’s stock worth $2,557,000 after acquiring an additional 1,822 shares during the last quarter. Legal & General Group Plc increased its position in Gambling.com Group by 5,151.3% in the 2nd quarter. Legal & General Group Plc now owns 89,429 shares of the company’s stock valued at $1,064,000 after acquiring an additional 87,726 shares during the period. American Century Companies Inc. increased its position 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 acquiring an additional 151,767 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Gambling.com Group during the second quarter valued at $283,000. Institutional investors own 72.26% of the company’s stock.

Analysts Set New Price Targets

GAMB has been the subject of several research analyst reports. Wall Street Zen raised Gambling.com Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Zacks Research downgraded shares of Gambling.com Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gambling.com Group in a report on Wednesday, June 17th. 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 report on Thursday, April 9th. Finally, Benchmark reiterated a “speculative buy” rating and set a $4.00 price objective (down from $6.00) on shares of Gambling.com Group in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Gambling.com Group has an average rating of “Hold” and an average price target of $7.38.

Gambling.com Group Trading Down 2.1%

Shares of GAMB stock opened at $1.89 on Tuesday. The firm has a market capitalization of $66.34 million, a P/E ratio of -1.47 and a beta of 0.73. Gambling.com Group has a twelve month low of $1.89 and a twelve month high of $12.08. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.02. The stock’s fifty day simple moving average is $2.58 and its 200 day simple moving average is $3.74.

Gambling.com Group (NASDAQ:GAMB) last posted its earnings results on Friday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $40.44 million during the quarter, compared to the consensus estimate of $40.21 million. Gambling.com Group had a negative net margin of 27.44% and a positive return on equity of 27.61%. As a group, sell-side analysts predict that Gambling.com Group will post 0.14 EPS for the current fiscal 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.