DAVENPORT & Co Acquires 14,170 Shares of GAN

DAVENPORT & Co LLC lifted its holdings in shares of GAN Limited (NYSE:GAN) by 41.0% during the 3rd quarter, according to its most recent disclosure with the SEC.

The fund owned 48,705 shares of the company’s stock after purchasing an additional 14,170 shares during the period. DAVENPORT & Co LLC owned 0.17% of GAN worth $823,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GAN. Rockefeller Capital Management L.P. acquired a new position in shares of GAN during the second quarter worth approximately $25,000. Bedel Financial Consulting Inc. acquired a new position in GAN during the 2nd quarter worth $41,000. Laidlaw Wealth Management LLC bought a new position in GAN in the 2nd quarter valued at $45,000. Strs Ohio acquired a new stake in shares of GAN in the 2nd quarter valued at $48,000. Finally, Captrust Financial Advisors bought a new stake in shares of GAN during the second quarter worth $68,000.

A number of analysts recently commented on GAN shares. Northland Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of GAN in a research report on Monday, October 5th. Zacks Investment Research upgraded shares of GAN from a “sell” rating to a “hold” rating in a research report on Monday, September 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. GAN has an average rating of “Buy” and an average price target of $26.50.

NYSE GAN opened at $16.42 on Monday. GAN Limited has a 12 month low of $10.60 and a 12 month high of $28.95. The firm has a 50-day moving average of $17.98.

GAN (NYSE:GAN) last posted its earnings results on Thursday, August 20th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.31). The firm had revenue of $8.30 million during the quarter, compared to the consensus estimate of $6.30 million. GAN’s revenue for the quarter was up 97.6% compared to the same quarter last year.

GAN Profile

GAN Limited provides enterprise Software-as-a-Service solutions for online casino gaming and online sports betting applications. It offers a proprietary internet gambling enterprise software system, GameSTACK, which it licenses principally to the land-based U.S. casino operators 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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