GAN Limited (NASDAQ:GAN) Expected to Announce Earnings of -$0.11 Per Share

Equities analysts forecast that GAN Limited (NASDAQ:GAN) will post earnings of ($0.11) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for GAN’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.13). GAN posted earnings per share of ($0.27) during the same quarter last year, which indicates a positive year over year growth rate of 59.3%. The firm is expected to announce its next earnings results on Thursday, March 24th.

On average, analysts expect that GAN will report full-year earnings of ($0.45) per share for the current year, with EPS estimates ranging from ($0.49) to ($0.37). For the next financial year, analysts anticipate that the firm will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.10) to $0.03. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow GAN.

GAN (NASDAQ:GAN) last issued its quarterly earnings data on Thursday, November 11th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.06). The business had revenue of $32.26 million during the quarter, compared to the consensus estimate of $31.83 million. GAN had a negative return on equity of 10.41% and a negative net margin of 22.62%. During the same quarter in the prior year, the business posted ($0.14) earnings per share.

A number of research analysts have issued reports on GAN shares. Zacks Investment Research upgraded GAN from a “sell” rating to a “hold” rating in a research note on Wednesday. Craig Hallum lowered their price objective on GAN from $18.00 to $14.00 in a research note on Tuesday, January 4th.

In other news, CEO Dermot S. Smurfit sold 155,414 shares of the stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $12.24, for a total transaction of $1,902,267.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dermot S. Smurfit sold 42,184 shares of the firm’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $13.18, for a total value of $555,985.12. The disclosure for this sale can be found here. In the last three months, insiders sold 197,848 shares of company stock worth $2,462,377. 9.14% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GAN. Primecap Management Co. CA raised its stake in shares of GAN by 155.7% during the 2nd quarter. Primecap Management Co. CA now owns 2,769,532 shares of the company’s stock valued at $45,531,000 after buying an additional 1,686,332 shares during the last quarter. Zimmer Partners LP raised its stake in shares of GAN by 56.8% during the 2nd quarter. Zimmer Partners LP now owns 1,725,000 shares of the company’s stock valued at $28,359,000 after buying an additional 625,009 shares during the last quarter. BlackRock Inc. grew its position in shares of GAN by 36.8% during the 2nd quarter. BlackRock Inc. now owns 2,256,611 shares of the company’s stock valued at $37,098,000 after acquiring an additional 607,192 shares during the period. Wellington Management Group LLP grew its position in shares of GAN by 36.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,010,591 shares of the company’s stock valued at $29,898,000 after acquiring an additional 539,016 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of GAN by 62.2% during the 3rd quarter. Geode Capital Management LLC now owns 741,072 shares of the company’s stock valued at $11,019,000 after acquiring an additional 284,252 shares during the period. Institutional investors and hedge funds own 47.92% of the company’s stock.

Shares of GAN traded down $0.08 on Friday, reaching $7.54. The stock had a trading volume of 20,283 shares, compared to its average volume of 696,852. The firm has a market capitalization of $318.11 million, a price-to-earnings ratio of -11.78 and a beta of 1.34. The company has a 50-day simple moving average of $10.15 and a 200-day simple moving average of $13.81. GAN has a 12-month low of $7.55 and a 12-month high of $31.81.

GAN Company Profile

Gan (UK) Ltd. engages in the development and supply of Internet gaming enterprise software-as-a-service solutions. It operates through the Real Money Gaming Operations and Simulated Gaming Operations segments. The company was founded by David McDowell and Kevin O’Neal in 2002 and is headquartered in London, the United Kingdom.

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Earnings History and Estimates for GAN (NASDAQ:GAN)

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