NeoGames (NASDAQ:NGMS) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of NeoGames (NASDAQ:NGMS) from a strong sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “NeoGames S.A. is a technology-driven provider of end-to-end iLottery solutions for national and state-regulated lotteries. NeoGames S.A. is based in LUXEMBOURG. “

NGMS opened at $24.62 on Wednesday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.20. The stock has a market cap of $541.64 million, a price-to-earnings ratio of 60.05 and a beta of 3.14. NeoGames has a twelve month low of $23.94 and a twelve month high of $73.54. The company’s 50-day moving average price is $31.21 and its two-hundred day moving average price is $39.74.

NeoGames (NASDAQ:NGMS) last announced its quarterly earnings results on Wednesday, November 10th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). The business had revenue of $11.97 million for the quarter, compared to analysts’ expectations of $10.85 million. NeoGames had a net margin of 20.50% and a return on equity of 21.04%. As a group, sell-side analysts anticipate that NeoGames will post 0.41 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NGMS. Point72 Hong Kong Ltd bought a new position in shares of NeoGames during the 3rd quarter valued at $25,000. Royal Bank of Canada boosted its position in NeoGames by 52.3% during the 3rd quarter. Royal Bank of Canada now owns 780 shares of the company’s stock valued at $28,000 after buying an additional 268 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in shares of NeoGames in the 2nd quarter worth about $61,000. Legal & General Group Plc lifted its position in shares of NeoGames by 131.5% in the 2nd quarter. Legal & General Group Plc now owns 1,169 shares of the company’s stock worth $71,000 after purchasing an additional 664 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in shares of NeoGames in the 3rd quarter worth about $71,000. Institutional investors and hedge funds own 53.25% of the company’s stock.

NeoGames Company Profile

NeoGames SA provides a suite of iLottery technology solutions worldwide. The company offers various technology platforms, a range of value-added services, and a game studio that provides a portfolio of draw based games and instant tickets through personal computers, smartphones, and handheld devices.

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