Short Interest in Multimedia Games Holding Company Declines By 22.2% (MGAM)
Multimedia Games Holding Company (NASDAQ:MGAM) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,258,789 shares, a drop of 22.2% from the June 13th total of 1,616,993 shares, American Banking News reports. Currently, 4.3% of the company’s stock are short sold. Based on an average daily volume of 212,862 shares, the short-interest ratio is presently 5.9 days.
Several analysts have recently commented on the stock. Analysts at Buckingham Research initiated coverage on shares of Multimedia Games Holding Company in a research note on Friday, June 27th. They set a “buy” rating and a $37.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Multimedia Games Holding Company from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 24th. They now have a $30.70 price target on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Multimedia Games Holding Company in a research note on Tuesday, June 3rd. They set a “buy” rating and a $36.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $35.94.
Shares of Multimedia Games Holding Company (NASDAQ:MGAM) opened at 29.93 on Tuesday. Multimedia Games Holding Company has a 52-week low of $25.03 and a 52-week high of $40.15. The stock’s 50-day moving average is $29.1 and its 200-day moving average is $29.90. The company has a market cap of $886.3 million and a P/E ratio of 23.85.
Multimedia Games Holding Company (NASDAQ:MGAM) last released its 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 Company’s revenue was up 24.9% compared to the same quarter last year. Analysts expect that Multimedia Games Holding Company will post $1.29 EPS for the current fiscal year.
Multimedia Games Holding Company, Inc (NASDAQ:MGAM) is engaged in designing, manufacturing and supplying gaming machines and systems to commercial and Native American casino operators in North America, as well as, domestic and selected international lottery operators, and commercial bingo gaming facility operators.
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