GAN Limited (NASDAQ:GAN – Get Rating) – Analysts at Jefferies Financial Group decreased their FY2022 earnings per share (EPS) estimates for shares of GAN in a report issued on Tuesday, November 15th. Jefferies Financial Group analyst D. Katz now anticipates that the company will earn $0.14 per share for the year, down from their previous estimate of $0.29. Jefferies Financial Group currently has a “Hold” rating and a $2.00 target price on the stock. The consensus estimate for GAN’s current full-year earnings is ($0.07) per share. Jefferies Financial Group also issued estimates for GAN’s Q4 2022 earnings at ($0.13) EPS, Q4 2022 earnings at ($0.13) EPS, FY2022 earnings at $0.14 EPS, Q1 2023 earnings at ($0.11) EPS, Q2 2023 earnings at ($0.11) EPS, Q2 2023 earnings at ($0.11) EPS, Q3 2023 earnings at ($0.09) EPS, Q3 2023 earnings at ($0.09) EPS, Q4 2023 earnings at ($0.09) EPS, Q4 2023 earnings at ($0.09) EPS, FY2023 earnings at ($0.40) EPS, FY2023 earnings at ($0.40) EPS and FY2024 earnings at ($0.29) EPS.
GAN has been the topic of several other reports. Craig Hallum reduced their price objective on GAN to $3.00 in a research note on Thursday. Northland Securities reduced their price objective on GAN to $2.00 in a research note on Thursday.
GAN Stock Performance
GAN (NASDAQ:GAN – Get Rating) last released its quarterly earnings data on Monday, August 15th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The business had revenue of $34.97 million during the quarter, compared to analyst estimates of $36.57 million. GAN had a negative net margin of 43.18% and a negative return on equity of 13.72%.
Hedge Funds Weigh In On GAN
A number of hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in GAN by 105.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,455 shares of the company’s stock valued at $60,000 after acquiring an additional 6,387 shares during the period. Eagle Bay Advisors LLC lifted its holdings in GAN by 59.8% during the first quarter. Eagle Bay Advisors LLC now owns 12,460 shares of the company’s stock worth $60,000 after acquiring an additional 4,664 shares during the period. Virtu Financial LLC bought a new stake in GAN during the third quarter worth $30,000. Octavia Wealth Advisors LLC bought a new stake in shares of GAN in the third quarter valued at $31,000. Finally, Bank of Montreal Can bought a new stake in shares of GAN in the second quarter valued at $61,000. 32.70% of the stock is currently owned by institutional investors.
Insider Buying and Selling at GAN
In other GAN news, CEO Dermot S. Smurfit sold 100,000 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $2.90, for a total value of $290,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,699,532 shares in the company, valued at $4,928,642.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.70% of the company’s stock.
GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. The company operates in two segments, B2B and Business-to-Consumer (B2C).
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