Nevada Gold & Casinos (UWN) Releases Quarterly Earnings Results

Nevada Gold & Casinos (NYSEMKT:UWN) released its earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, Bloomberg Earnings reports. Nevada Gold & Casinos had a net margin of 6.04% and a return on equity of 14.14%. The company had revenue of $18.49 million during the quarter.

Nevada Gold & Casinos (NYSEMKT:UWN) traded down 2.97% during mid-day trading on Friday, reaching $2.29. 19,587 shares of the company traded hands. The stock’s 50-day moving average price is $2.38 and its 200-day moving average price is $2.28. Nevada Gold & Casinos has a one year low of $1.59 and a one year high of $2.63. The firm has a market cap of $38.55 million and a PE ratio of 76.33.

Institutional investors have recently added to or reduced their stakes in the stock. Lafitte Capital Management LP bought a new position in Nevada Gold & Casinos during the 1st quarter worth approximately $1,771,000. Renaissance Technologies LLC boosted its stake in Nevada Gold & Casinos by 5.3% during the 1st quarter. Renaissance Technologies LLC now owns 997,880 shares of the company’s stock worth $2,125,000 after acquiring an additional 50,480 shares during the last quarter. Vanguard Group Inc. boosted its stake in Nevada Gold & Casinos by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 353,436 shares of the company’s stock worth $792,000 after acquiring an additional 1,007 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Nevada Gold & Casinos by 12.1% during the 2nd quarter. Private Advisor Group LLC now owns 69,599 shares of the company’s stock worth $155,000 after acquiring an additional 7,500 shares during the last quarter.

Nevada Gold & Casinos announced that its board has approved a stock repurchase plan on Wednesday, July 12th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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Separately, ValuEngine raised shares of Nevada Gold & Casinos from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.

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.

Earnings History for Nevada Gold & Casinos (NYSEMKT:UWN)

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