Gambling.com Group Limited (NASDAQ:GAMB) Sees Significant Drop in Short Interest

Gambling.com Group Limited (NASDAQ:GAMB) was the target of a significant decline in short interest in 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. Based on an average daily trading volume, of 167,400 shares, the short-interest ratio is presently 4.4 days. Currently, 4.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Gambling.com Group from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial reaffirmed a “buy” rating and issued a $16.00 price target (up from $13.00) on shares of Gambling.com Group in a research note on Friday, November 15th. Craig Hallum boosted their price objective on Gambling.com Group from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Macquarie lifted their price target on Gambling.com Group from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.00.

Hedge Funds Weigh In On Gambling.com Group

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in shares of Gambling.com Group by 1,997.6% during the 2nd quarter. Quarry LP now owns 12,019 shares of the company’s stock valued at $99,000 after acquiring an additional 11,446 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Gambling.com Group during the second quarter worth $115,000. MetLife Investment Management LLC increased its position in shares of Gambling.com Group by 111.2% during the 3rd quarter. MetLife Investment Management LLC now owns 12,384 shares of the company’s stock worth $124,000 after purchasing an additional 6,519 shares during the last quarter. American Century Companies Inc. lifted its position in Gambling.com Group by 38.0% in the second quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock valued at $128,000 after buying an additional 4,276 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Gambling.com Group by 29.8% during the second quarter. Rhumbline Advisers now owns 21,950 shares of the company’s stock valued at $180,000 after acquiring an additional 5,043 shares during the last quarter. Hedge funds and other institutional investors own 72.26% of the company’s stock.

Gambling.com Group Price Performance

GAMB traded down $0.09 during trading on Tuesday, reaching $13.27. The company’s stock had a trading volume of 19,612 shares, compared to its average volume of 172,148. The company has a market cap of $493.91 million, a price-to-earnings ratio of 17.13 and a beta of 1.02. The firm has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $9.47. Gambling.com Group has a 1 year low of $7.51 and a 1 year high of $13.51. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

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.