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 decrease in short interest in the month of June. As of June 30th, there was short interest totaling 987,933 shares, a decrease of 51.8% from the June 15th total of 2,048,920 shares. Approximately 6.7% of the company’s shares are sold short. Based on an average daily volume of 915,471 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Gambling.com Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in Gambling.com Group by 827.6% during the first quarter. Royal Bank of Canada now owns 25,185 shares of the company’s stock worth $98,000 after purchasing an additional 22,470 shares during the period. Sei Investments Co. acquired a new position in Gambling.com Group in the first quarter valued at approximately $109,000. Cetera Investment Advisers acquired a new position in Gambling.com Group in the first quarter valued at approximately $107,000. Bank of New York Mellon Corp boosted its holdings in shares of Gambling.com Group by 24.2% during the 1st quarter. Bank of New York Mellon Corp now owns 44,795 shares of the company’s stock worth $174,000 after buying an additional 8,737 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Gambling.com Group by 41.9% during the 1st quarter. Strs Ohio now owns 137,900 shares of the company’s stock worth $535,000 after buying an additional 40,700 shares in the last quarter. Institutional investors own 72.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Zacks Research downgraded Gambling.com Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Gambling.com Group in a research note on Wednesday, June 17th. Stifel Nicolaus lowered their price objective on Gambling.com Group from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Benchmark restated 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. Finally, Wall Street Zen upgraded Gambling.com Group from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Gambling.com Group has a consensus rating of “Hold” and a consensus target price of $7.38.

Gambling.com Group Price Performance

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

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