ValuEngine cut shares of Nevada Gold & Casinos (NYSEMKT:UWN) from a buy rating to a hold rating in a report released on Thursday.
Nevada Gold & Casinos (NYSEMKT:UWN) opened at 2.43 on Thursday. The company has a market capitalization of $40.91 million and a PE ratio of 81.00. The company has a 50-day moving average price of $2.30 and a 200 day moving average price of $2.24. Nevada Gold & Casinos has a 52-week low of $1.55 and a 52-week high of $2.63.
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Nevada Gold & Casinos declared that its board has initiated a stock buyback program on Wednesday, July 12th that permits the company to repurchase $2.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Several large investors have recently bought and sold shares of UWN. Private Advisor Group LLC increased 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 valued at $155,000 after buying an additional 7,500 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $792,000 after buying an additional 1,007 shares during the last quarter. Lafitte Capital Management LP bought a new stake in Nevada Gold & Casinos during the first quarter valued at approximately $1,771,000. Finally, Renaissance Technologies LLC increased 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 valued at $2,125,000 after buying an additional 50,480 shares during the last quarter.
Nevada Gold & Casinos Company Profile
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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