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

Gambling.com Group Limited (NASDAQ:GAMB) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 740,700 shares, a decline of 6.2% from the October 31st total of 789,700 shares. Currently, 4.5% of the company’s stock are sold short. Based on an average trading volume of 167,400 shares, the days-to-cover ratio is presently 4.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Gambling.com Group from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Macquarie increased their price objective on Gambling.com Group from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Craig Hallum boosted their target price on Gambling.com Group from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $16.00 target price (up previously from $13.00) on shares of Gambling.com Group in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $15.00.

Gambling.com Group Stock Performance

NASDAQ:GAMB opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day moving average is $10.61 and its 200-day moving average is $9.50. Gambling.com Group has a 52-week low of $7.51 and a 52-week high of $13.67. The company has a market cap of $507.68 million, a price-to-earnings ratio of 17.49 and a beta of 1.02.

Institutional Investors Weigh In On Gambling.com Group

Hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC raised its position in Gambling.com Group by 4.2% in the 2nd quarter. Gabelli Funds LLC now owns 32,000 shares of the company’s stock valued at $263,000 after purchasing an additional 1,300 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Gambling.com Group by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 41,714 shares of the company’s stock valued at $343,000 after buying an additional 2,090 shares during the last quarter. American Century Companies Inc. lifted its position 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 worth $128,000 after buying an additional 4,276 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Gambling.com Group by 29.8% in the second quarter. Rhumbline Advisers now owns 21,950 shares of the company’s stock valued at $180,000 after purchasing an additional 5,043 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Gambling.com Group by 111.2% during the 3rd quarter. MetLife Investment Management LLC now owns 12,384 shares of the company’s stock valued at $124,000 after purchasing an additional 6,519 shares during the period. Institutional investors and hedge funds own 72.26% of the company’s stock.

Gambling.com Group Company Profile

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.