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

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

Hedge Funds Weigh In On Gambling.com Group

Large investors have recently made changes to their positions in the business. Millennium Management LLC increased its position in Gambling.com Group by 231.9% in the 3rd quarter. Millennium Management LLC now owns 1,231,370 shares of the company’s stock worth $10,073,000 after buying an additional 860,369 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Gambling.com Group by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 632,330 shares of the company’s stock worth $5,173,000 after buying an additional 19,592 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Gambling.com Group by 1.7% in the third quarter. Punch & Associates Investment Management Inc. now owns 628,315 shares of the company’s stock valued at $5,140,000 after acquiring an additional 10,415 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of Gambling.com Group by 57.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 365,000 shares of the company’s stock valued at $1,993,000 after acquiring an additional 133,000 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of Gambling.com Group by 55.2% in the third quarter. Qube Research & Technologies Ltd now owns 300,483 shares of the company’s stock worth $2,458,000 after acquiring an additional 106,920 shares during the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.

Gambling.com Group Stock Performance

NASDAQ:GAMB traded up $0.07 during midday trading on Wednesday, reaching $1.93. The stock had a trading volume of 490,805 shares, compared to its average volume of 716,434. Gambling.com Group has a 1-year low of $1.85 and a 1-year high of $12.08. The firm’s fifty day simple moving average is $2.54 and its 200-day simple moving average is $3.72. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $67.74 million, a P/E ratio of -1.50 and a beta of 0.73.

Gambling.com Group (NASDAQ:GAMB) last released its earnings results on Friday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). Gambling.com Group had a positive return on equity of 27.61% and a negative net margin of 27.44%.The firm had revenue of $40.44 million for the quarter, compared to analyst estimates of $40.21 million. On average, equities research analysts forecast that Gambling.com Group will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GAMB has been the topic of several analyst reports. Benchmark reissued a “speculative buy” rating and set a $4.00 target price (down from $6.00) on shares of Gambling.com Group in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gambling.com Group in a research report on Wednesday, June 17th. Stifel Nicolaus decreased their price target on 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 lowered Gambling.com Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Finally, Wall Street Zen raised Gambling.com Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.38.

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.