Insider Selling: Multimedia Games Holding Co. CEO Sells 60,000 Shares of Stock (MGAM)
Multimedia Games Holding Co. (NASDAQ:MGAM) CEO Patrick J. Ramsey sold 60,000 shares of the stock on the open market in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $28.82, for a total value of $1,729,200.00. Following the completion of the transaction, the chief executive officer now directly owns 80,000 shares of the company’s stock, valued at approximately $2,305,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Multimedia Games Holding Co. (NASDAQ:MGAM) traded up 0.46% during mid-day trading on Tuesday, hitting $28.57. The stock had a trading volume of 279,754 shares. Multimedia Games Holding Co. has a 52 week low of $23.81 and a 52 week high of $40.15. The stock’s 50-day moving average is $28.51 and its 200-day moving average is $29.99. The company has a market cap of $846.0 million and a price-to-earnings ratio of 22.59.
Multimedia Games Holding Co. (NASDAQ:MGAM) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.31 by $0.04. The company had revenue of $58.20 million for the quarter, compared to the consensus estimate of $53.70 million. Multimedia Games Holding Co.’s revenue was up 24.9% compared to the same quarter last year. Analysts expect that Multimedia Games Holding Co. will post $1.31 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Stifel initiated coverage on shares of Multimedia Games Holding Co. in a research note on Tuesday, June 3rd. They set a “buy” rating and a $36.00 price target on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Multimedia Games Holding Co. in a research note on Monday, June 2nd. They set a “buy” rating and a $36.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, Multimedia Games Holding Co. has a consensus rating of “Buy” and an average price target of $36.53.
Multimedia Games Holding Company, Inc, formerly Multimedia Games, Inc, designs, manufactures and supplies gaming machines and systems to casino operators in North America, domestic and selected international lottery operators, and commercial bingo gaming facility operators.
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