Bridgeway Capital Management LLC Sells 553,000 Shares of GAN Limited (NASDAQ:GAN)

Bridgeway Capital Management LLC trimmed its position in shares of GAN Limited (NASDAQ:GAN) by 86.4% during the 4th quarter, Holdings Channel reports. The firm owned 87,289 shares of the company’s stock after selling 553,000 shares during the period. Bridgeway Capital Management LLC’s holdings in GAN were worth $159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cigogne Management SA purchased a new position in GAN during the fourth quarter valued at $2,358,000. Arrowstreet Capital Limited Partnership grew its stake in GAN by 475.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 925,449 shares of the company’s stock valued at $1,684,000 after acquiring an additional 764,752 shares in the last quarter. Black Maple Capital Management LP purchased a new position in GAN during the fourth quarter valued at $1,034,000. Credit Industriel ET Commercial bought a new position in GAN during the fourth quarter valued at $1,009,000. Finally, Renaissance Technologies LLC lifted its position in GAN by 51.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,244,005 shares of the company’s stock valued at $2,264,000 after purchasing an additional 424,678 shares during the last quarter. 16.67% of the stock is currently owned by institutional investors.

GAN Stock Down 1.6%

GAN stock opened at $1.86 on Wednesday. GAN Limited has a 52 week low of $1.29 and a 52 week high of $1.90. The company has a fifty day simple moving average of $1.77 and a two-hundred day simple moving average of $1.80. The firm has a market capitalization of $86.17 million, a P/E ratio of -6.20 and a beta of 1.86.

GAN (NASDAQ:GAN) last released its earnings results on Friday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $29.37 million for the quarter, compared to analysts’ expectations of $37.48 million.

About GAN

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.