Short Interest in Gambling.com Group Limited (NASDAQ:GAMB) Drops By 6.2%

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

Institutional Investors Weigh In On Gambling.com Group

Institutional investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC grew its position in shares of Gambling.com Group by 197.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 202,727 shares of the company’s stock worth $1,666,000 after buying an additional 134,620 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gambling.com Group by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 41,714 shares of the company’s stock worth $343,000 after purchasing an additional 2,090 shares during the period. Rhumbline Advisers grew its stake 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 worth $180,000 after acquiring an additional 5,043 shares in the last quarter. American Century Companies Inc. raised its position in Gambling.com Group by 38.0% in the 2nd quarter. American Century Companies Inc. now owns 15,523 shares of the company’s stock valued at $128,000 after purchasing an additional 4,276 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Gambling.com Group by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 398,016 shares of the company’s stock valued at $3,272,000 after purchasing an additional 47,843 shares during the last quarter. 72.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Gambling.com Group Stock Performance

GAMB traded up $0.28 during mid-day trading on Tuesday, reaching $13.64. 316,746 shares of the company traded hands, compared to its average volume of 173,099. Gambling.com Group has a 52-week low of $7.51 and a 52-week high of $13.67. The company’s fifty day moving average price is $10.54 and its 200-day moving average price is $9.47. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $507.68 million, a P/E ratio of 17.01 and a beta of 1.02.

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.