Gabelli Funds LLC Lowers Stake in GAN Limited (NASDAQ:GAN)

Gabelli Funds LLC lowered its stake in shares of GAN Limited (NASDAQ:GAN) by 19.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 801,582 shares of the company’s stock after selling 187,700 shares during the period. Gabelli Funds LLC owned 1.77% of GAN worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in GAN by 751.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,996 shares of the company’s stock worth $28,000 after buying an additional 15,882 shares during the period. Cannon Global Investment Management LLC purchased a new stake in shares of GAN during the 4th quarter valued at $75,000. Clear Harbor Asset Management LLC purchased a new stake in shares of GAN during the 4th quarter valued at $169,000. PenderFund Capital Management Ltd. purchased a new stake in shares of GAN during the 4th quarter valued at $482,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of GAN during the 4th quarter valued at $1,001,000. Hedge funds and other institutional investors own 16.67% of the company’s stock.

GAN Stock Performance

Shares of GAN traded up $0.01 during midday trading on Friday, hitting $1.53. 53,026 shares of the company’s stock traded hands, compared to its average volume of 126,189. GAN Limited has a 1 year low of $0.83 and a 1 year high of $2.07. The firm’s fifty day moving average is $1.44 and its 200-day moving average is $1.42.

GAN (NASDAQ:GAN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.09) EPS for the quarter. GAN had a negative net margin of 32.10% and a negative return on equity of 323.71%. The business had revenue of $30.65 million for the quarter.

GAN Profile

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. It operates through two segments: B2B and B2C. The company provides and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming.