ValuEngine upgraded shares of Nevada Gold & Casinos (NYSEMKT:UWN) from a hold rating to a buy rating in a report released on Friday, September 1st.
Shares of Nevada Gold & Casinos (NYSEMKT UWN) opened at 2.39 on Friday. Nevada Gold & Casinos has a 52-week low of $1.59 and a 52-week high of $2.63. The stock has a market cap of $40.24 million and a P/E ratio of 79.67. The company has a 50-day moving average of $2.39 and a 200 day moving average of $2.28.
Nevada Gold & Casinos (NYSEMKT:UWN) last released its quarterly earnings data on Thursday, September 14th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $18.49 million for the quarter. Nevada Gold & Casinos had a return on equity of 14.14% and a net margin of 6.04%. Equities research analysts forecast that Nevada Gold & Casinos will post $0.13 EPS for the current fiscal year.
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Nevada Gold & Casinos announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 12th that authorizes the company to repurchase $2.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently bought and sold shares of UWN. Private Advisor Group LLC boosted its stake in Nevada Gold & Casinos by 12.1% in the second quarter. Private Advisor Group LLC now owns 69,599 shares of the company’s stock worth $155,000 after purchasing an additional 7,500 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nevada Gold & Casinos by 0.3% in the second quarter. Vanguard Group Inc. now owns 353,436 shares of the company’s stock worth $792,000 after purchasing an additional 1,007 shares in the last quarter. Lafitte Capital Management LP acquired a new position in Nevada Gold & Casinos in the first quarter worth $1,771,000. Finally, Renaissance Technologies LLC boosted its stake in Nevada Gold & Casinos by 5.3% in the first quarter. Renaissance Technologies LLC now owns 997,880 shares of the company’s stock worth $2,125,000 after purchasing an additional 50,480 shares in the last quarter.
About Nevada Gold & Casinos
Nevada Gold & Casinos, Inc is a gaming company involved in financing, developing, owning and operating gaming properties and projects. The Company’s segments include Washington, South Dakota, Nevada and Corporate. The Company operated a portfolio of nine mini-casinos in Washington State (Washington), which include restaurants, bars and approximately 126 table games, at April 30, 2016.
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