Teachers Retirement System of The State of Kentucky Increases Holdings in GAN Limited (NASDAQ:GAN)

Teachers Retirement System of The State of Kentucky boosted its holdings in shares of GAN Limited (NASDAQ:GAN) by 22.6% during the 3rd quarter, Holdings Channel reports. The fund owned 83,281 shares of the company’s stock after buying an additional 15,379 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in GAN were worth $1,238,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc purchased a new position in GAN during the 3rd quarter worth $27,000. Dark Forest Capital Management LP purchased a new stake in shares of GAN during the 2nd quarter worth about $47,000. Nisa Investment Advisors LLC acquired a new stake in GAN in the second quarter valued at approximately $57,000. First Mercantile Trust Co. grew its stake in GAN by 22.1% in the 2nd quarter. First Mercantile Trust Co. now owns 5,790 shares of the company’s stock valued at $95,000 after acquiring an additional 1,048 shares during the period. Finally, Royal Bank of Canada lifted its holdings in GAN by 34.9% during the second quarter. Royal Bank of Canada now owns 7,542 shares of the company’s stock valued at $124,000 after purchasing an additional 1,950 shares in the last quarter. 47.92% of the stock is owned by institutional investors and hedge funds.

GAN stock opened at $7.56 on Friday. GAN Limited has a fifty-two week low of $7.31 and a fifty-two week high of $31.81. The business has a 50 day moving average price of $10.01 and a 200 day moving average price of $13.74.

GAN (NASDAQ:GAN) last announced its quarterly earnings data on Thursday, November 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $32.26 million during the quarter, compared to analyst estimates of $31.83 million. During the same period in the prior year, the firm posted ($0.14) earnings per share. As a group, sell-side analysts anticipate that GAN Limited will post -0.45 earnings per share for the current fiscal year.

In other GAN news, CEO Dermot S. Smurfit sold 155,414 shares of the business’s stock in a transaction that occurred on Wednesday, November 17th. The shares were sold at an average price of $12.24, for a total transaction of $1,902,267.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dermot S. Smurfit sold 42,184 shares of the business’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $13.18, for a total transaction of $555,985.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,848 shares of company stock valued at $2,462,377. Company insiders own 9.14% of the company’s stock.

Several research analysts have recently weighed in on GAN shares. Zacks Investment Research upgraded GAN from a “sell” rating to a “hold” rating in a report on Wednesday. Craig Hallum dropped their price target on shares of GAN from $18.00 to $14.00 in a research report on Tuesday, January 4th.

GAN 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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Institutional Ownership by Quarter for GAN (NASDAQ:GAN)

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