Zacks Investment Research lowered shares of GAN (NASDAQ:GAN) from a buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.
GAN Secures Online Gaming, Retail Sports Betting Deals with Michigan Casinos. Posted on: April 2, 2020, 04:17h. Last updated on: April 2, 2020, 09:23h. GAN Adds the Seneca Gaming Corporation to its Growing List of Simulated Gaming Clients. 1 day ago Golden Nugget Is More a Bet on the Jockey Than the Horse InvestorPlace. 5 days ago. Engages in the provision of enterprise solutions for online casino gaming. It operates through the Real Money Gaming Operations and Simulated Gaming Operations segments. Irvine, California January 22, 2021: GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider to the real money internet gaming and online sports betting industries, announced that today is the commencement date for Michigan’s internet gambling market and GAN’s three related client launches: Churchill Downs, Wynn. GAN Limited (GAN) is a full-service B2B provider of online gaming content and software that has positioned itself to be a major beneficiary of the continued push towards nationwide gambling.
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. “
Other analysts have also issued reports about the company. B. Riley restated a buy rating and issued a $27.00 target price (down from $28.50) on shares of GAN in a research note on Tuesday, November 17th. Northland Securities restated a buy rating and issued a $30.00 price objective on shares of GAN in a research report on Monday, October 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. GAN currently has a consensus rating of Buy and a consensus target price of $27.00.
Shares of GAN stock opened at $26.88 on Tuesday. The firm’s 50-day moving average price is $21.90 and its two-hundred day moving average price is $17.83. GAN has a 1-year low of $10.60 and a 1-year high of $28.95.GAN (NASDAQ:GAN) last announced its earnings results on Sunday, November 15th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.16). GAN had a positive return on equity of 0.61% and a negative net margin of 24.35%. The business had revenue of $10.27 million during the quarter, compared to analyst estimates of $10.33 million. As a group, equities analysts anticipate that GAN will post -0.08 EPS for the current year.
In other news, EVP Jeffrey Bruce Berman sold 30,000 shares of the business’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $22.01, for a total transaction of $660,300.00. Following the completion of the sale, the executive vice president now owns 349 shares in the company, valued at $7,681.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Hedge funds and other institutional investors have recently modified their holdings of the company. GWM Advisors LLC raised its stake in shares of GAN by 4.0% during the third quarter. GWM Advisors LLC now owns 20,800 shares of the company’s stock worth $352,000 after buying an additional 800 shares during the last quarter. Jacobi Capital Management LLC bought a new stake in shares of GAN during the 3rd quarter valued at $51,000. Mercer Global Advisors Inc. ADV raised its position in shares of GAN by 46.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 11,814 shares of the company’s stock valued at $200,000 after acquiring an additional 3,752 shares during the last quarter. Strs Ohio lifted its stake in shares of GAN by 210.5% in the 4th quarter. Strs Ohio now owns 5,900 shares of the company’s stock valued at $119,000 after purchasing an additional 4,000 shares during the period. Finally, PNC Financial Services Group Inc. bought a new position in shares of GAN in the 2nd quarter worth $116,000. 26.05% of the stock is currently owned by institutional investors.
GAN Company Profile
GAN Limited operates as a business-to-business supplier of internet gambling software-as-a-service solutions to online casino gaming and online sports betting applications in the United States. Play reel rush game. Red hot slot machine game. It offers and licenses GameSTACK, a proprietary internet gambling enterprise software system as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming, and virtual simulated gaming.
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