According to Zacks, “GAN Limited is a business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S.land-based casino industry. It developed a proprietary internet gambling enterprise software system, GameSTACK(TM), which it licenses to land-based casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. GAN Limited is based in London, United Kingdom. “
Separately, Craig Hallum lowered their price objective on GAN from $18.00 to $14.00 in a research report on Tuesday, January 4th.
GAN (NASDAQ:GAN) last posted its quarterly earnings results on Thursday, November 11th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). GAN had a negative net margin of 22.62% and a negative return on equity of 10.41%. The business had revenue of $32.26 million during the quarter, compared to the consensus estimate of $31.83 million. During the same quarter last year, the company posted ($0.14) EPS. On average, sell-side analysts forecast that GAN will post -0.45 earnings per share for the current year.
In other GAN news, CEO Glenn Anders Karlsen acquired 10,000 shares of GAN stock in a transaction that occurred on Monday, November 22nd. The shares were acquired at an average cost of $10.90 per share, with a total value of $109,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dermot S. Smurfit sold 155,414 shares of GAN stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $12.24, for a total value of $1,902,267.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,848 shares of company stock worth $2,462,377. 9.14% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in GAN. Primecap Management Co. CA raised its position in shares of GAN by 155.7% during the second quarter. Primecap Management Co. CA now owns 2,769,532 shares of the company’s stock worth $45,531,000 after acquiring an additional 1,686,332 shares during the last quarter. BlackRock Inc. raised its position in shares of GAN by 20.9% during the third quarter. BlackRock Inc. now owns 2,728,582 shares of the company’s stock worth $40,574,000 after acquiring an additional 471,971 shares during the last quarter. Wellington Management Group LLP raised its position in shares of GAN by 36.6% during the third quarter. Wellington Management Group LLP now owns 2,010,591 shares of the company’s stock worth $29,898,000 after acquiring an additional 539,016 shares during the last quarter. Zimmer Partners LP raised its position in shares of GAN by 56.8% during the second quarter. Zimmer Partners LP now owns 1,725,000 shares of the company’s stock worth $28,359,000 after acquiring an additional 625,009 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of GAN by 38.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 893,991 shares of the company’s stock worth $8,216,000 after acquiring an additional 248,751 shares during the last quarter. 47.92% of the stock is currently owned by hedge funds and other institutional investors.
GAN Company Profile
Gan (UK) Ltd. engages in the development and supply of Internet gaming enterprise software-as-a-service solutions. It operates through the Real Money Gaming Operations and Simulated Gaming Operations segments. The company was founded by David McDowell and Kevin O’Neal in 2002 and is headquartered in London, the United Kingdom.
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