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

Gambling.com Group Limited (NASDAQ:GAMB) was the target of a large decline in short interest in 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. Currently, 6.7% of the company’s stock are sold short. Based on an average trading volume of 915,471 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On Gambling.com Group

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of Gambling.com Group by 653.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,254 shares of the company’s stock valued at $62,000 after purchasing an additional 4,557 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Gambling.com Group during the fourth quarter worth approximately $65,000. Deutsche Bank AG increased its stake in shares of Gambling.com Group by 3,262.2% in the fourth quarter. Deutsche Bank AG now owns 12,978 shares of the company’s stock worth $71,000 after buying an additional 12,592 shares during the last quarter. HRT Financial LP bought a new stake in shares of Gambling.com Group in the fourth quarter worth $88,000. Finally, Royal Bank of Canada raised its holdings in Gambling.com Group by 827.6% in the first quarter. Royal Bank of Canada now owns 25,185 shares of the company’s stock valued at $98,000 after acquiring an additional 22,470 shares in the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.

Gambling.com Group Stock Down 8.3%

Gambling.com Group stock traded down $0.16 during midday trading on Thursday, hitting $1.77. 771,233 shares of the stock were exchanged, compared to its average volume of 716,843. Gambling.com Group has a 1 year low of $1.73 and a 1 year high of $11.65. 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 firm has a market cap of $62.12 million, a P/E ratio of -1.37 and a beta of 0.73. The company has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $3.69.

Gambling.com Group (NASDAQ:GAMB) last posted its quarterly earnings data 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 negative net margin of 27.44% and a positive return on equity of 27.61%. The firm had revenue of $40.44 million during the quarter, compared to analysts’ expectations of $40.21 million. On average, sell-side analysts predict that Gambling.com Group will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GAMB shares. Wall Street Zen raised shares of Gambling.com Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings restated a “sell (d)” rating on shares of Gambling.com Group in a research note on Wednesday, June 17th. Benchmark reaffirmed a “speculative buy” rating and issued a $4.00 target price (down from $6.00) on shares of Gambling.com Group in a research report on Friday, May 15th. Stifel Nicolaus lowered their target price 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. Finally, Zacks Research downgraded Gambling.com Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Gambling.com Group 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.