The Manufacturers Life Insurance Company increased its position in GAN Limited (NASDAQ:GAN) by 23.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 17,589 shares of the company’s stock after acquiring an additional 3,327 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GAN were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Hudock Inc. bought a new stake in shares of GAN in the first quarter worth $47,000. Citigroup Inc. grew its holdings in GAN by 1,188.5% during the fourth quarter. Citigroup Inc. now owns 4,587 shares of the company’s stock valued at $93,000 after purchasing an additional 4,231 shares during the period. Strs Ohio grew its holdings in GAN by 210.5% during the fourth 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. Captrust Financial Advisors grew its holdings in GAN by 105.8% during the fourth quarter. Captrust Financial Advisors now owns 7,675 shares of the company’s stock valued at $156,000 after purchasing an additional 3,945 shares during the period. Finally, Cowa LLC bought a new stake in GAN during the fourth quarter valued at about $195,000. 42.54% of the stock is owned by institutional investors.
GAN opened at $17.51 on Friday. The company has a market capitalization of $735.56 million and a PE ratio of -20.60. The company’s 50 day simple moving average is $17.66. GAN Limited has a one year low of $13.78 and a one year high of $31.81.
Several equities analysts have recently commented on the company. Craig Hallum restated a “hold” rating and issued a $20.00 price objective (down from $28.00) on shares of GAN in a research report on Thursday, April 1st. B. Riley reiterated a “buy” rating on shares of GAN in a research report on Monday, May 24th. Finally, Zacks Investment Research downgraded GAN from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 26th.
In related news, Director David Goldberg sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $17.14, for a total value of $128,550.00. Following the transaction, the director now owns 26,147 shares of the company’s stock, valued at $448,159.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
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, Italy, the United Kingdom and Channel Islands, and internationally. The company operates through Real Money iGaming (RMiG) and Simulated Gaming (SIM) segments.
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