Insider Selling: Adam Chibib Sells 40,350 Shares of Multimedia Games Holding Co. Stock (MGAM)
Multimedia Games Holding Co. (NASDAQ:MGAM) CFO Adam Chibib sold 40,350 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $28.27, for a total transaction of $1,140,694.50. Following the sale, the chief financial officer now directly owns 46,922 shares in the company, valued at approximately $1,326,485. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on MGAM. 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 research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $36.53.
Shares of Multimedia Games Holding Co. (NASDAQ:MGAM) traded up 1.86% on Wednesday, hitting $29.10. The stock had a trading volume of 180,295 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 $28.53 and its 200-day moving average is $29.98. The company has a market cap of $861.7 million and a price-to-earnings ratio of 22.69.
Multimedia Games Holding Co. (NASDAQ:MGAM) last issued its quarterly earnings data 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.
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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