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

Zacks Investment Research upgraded shares of NeoGames (NASDAQ:NGMS) from a sell rating to a hold rating in a research note released on Wednesday, 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. “

NASDAQ:NGMS opened at $37.92 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.20. NeoGames has a 1-year low of $18.67 and a 1-year high of $73.54. The firm has a market capitalization of $834.09 million and a price-to-earnings ratio of 97.23. The stock has a fifty day simple moving average of $40.64 and a 200 day simple moving average of $48.05.

NeoGames (NASDAQ:NGMS) last released its quarterly earnings results on Wednesday, August 11th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). The company had revenue of $12.89 million during the quarter, compared to analyst estimates of $12.65 million. Equities analysts predict that NeoGames will post 0.43 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in NGMS. Invesco Ltd. acquired a new stake in NeoGames during the 2nd quarter worth about $47,045,000. WCM Investment Management LLC acquired a new stake in NeoGames during the 2nd quarter worth about $24,303,000. Wasatch Advisors Inc. acquired a new stake in NeoGames during the 2nd quarter worth about $19,289,000. FMR LLC boosted its position in NeoGames by 25,772.6% during the 2nd quarter. FMR LLC now owns 313,058 shares of the company’s stock worth $19,243,000 after acquiring an additional 311,848 shares during the period. Finally, BlackRock Inc. boosted its position in NeoGames by 80,981.2% during the 1st quarter. BlackRock Inc. now owns 262,703 shares of the company’s stock worth $9,396,000 after acquiring an additional 262,379 shares during the period. Hedge funds and other institutional investors own 25.63% of the company’s stock.

About NeoGames

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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