DAVENPORT & Co LLC Invests $879,000 in GAN Limited (NYSE:GAN)

DAVENPORT & Co LLC acquired a new stake in shares of GAN Limited (NYSE:GAN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 34,535 shares of the company’s stock, valued at approximately $879,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bedel Financial Consulting Inc. purchased a new stake in GAN during the 2nd quarter valued at about $41,000. Strs Ohio purchased a new stake in GAN during the 2nd quarter valued at about $48,000. SG Americas Securities LLC purchased a new stake in GAN during the 2nd quarter valued at about $129,000. Glaxis Capital Management LLC purchased a new stake in GAN during the 2nd quarter valued at about $509,000. Finally, Janney Montgomery Scott LLC purchased a new stake in GAN during the 2nd quarter valued at about $1,272,000.

Shares of GAN stock opened at $19.35 on Friday. The business has a 50 day moving average of $24.10. GAN Limited has a one year low of $10.60 and a one year high of $28.95.

GAN (NYSE:GAN) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). The firm had revenue of $7.67 million for the quarter, compared to analysts’ expectations of $7.89 million.

GAN has been the topic of several recent analyst reports. B. Riley boosted their target price on shares of GAN from $24.00 to $28.50 and gave the company a “buy” rating in a report on Thursday, June 18th. Macquarie initiated coverage on shares of GAN in a report on Thursday, June 4th. They issued an “outperform” rating and a $24.00 target price on the stock. Zacks Investment Research upgraded shares of GAN from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, July 8th. Craig Hallum boosted their target price on shares of GAN from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Northland Securities initiated coverage on shares of GAN in a report on Friday, July 17th. They issued an “outperform” rating and a $30.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, GAN has a consensus rating of “Buy” and a consensus target price of $28.10.

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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Institutional Ownership by Quarter for GAN (NYSE:GAN)

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