Yakira Capital Management Inc. Trims Holdings in GAN Limited (NASDAQ:GAN)

Yakira Capital Management Inc. reduced its stake in GAN Limited (NASDAQ:GAN) by 21.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,760 shares of the company’s stock after selling 8,373 shares during the quarter. Yakira Capital Management Inc.’s holdings in GAN were worth $56,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GAN. Oddo BHF Asset Management Sas acquired a new position in GAN during the third quarter worth $3,676,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of GAN by 26.8% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 954,455 shares of the company’s stock valued at $1,737,000 after buying an additional 201,712 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in GAN by 475.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 925,449 shares of the company’s stock worth $1,684,000 after acquiring an additional 764,752 shares in the last quarter. Geode Capital Management LLC boosted its holdings in GAN by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 436,926 shares of the company’s stock valued at $774,000 after acquiring an additional 9,260 shares during the period. Finally, Rangeley Capital LLC purchased a new position in GAN during the 4th quarter valued at about $182,000. Hedge funds and other institutional investors own 16.67% of the company’s stock.

GAN Price Performance

Shares of NASDAQ:GAN opened at $1.71 on Friday. The firm has a market capitalization of $78.31 million, a PE ratio of -5.70 and a beta of 1.88. GAN Limited has a 1 year low of $1.17 and a 1 year high of $1.90. The firm’s 50-day moving average is $1.78 and its two-hundred day moving average is $1.81.

GAN (NASDAQ:GAN) last announced its earnings results on Monday, March 17th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $41.11 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share.

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.