M&T Bank Corp Buys 5,633 Shares of NeoGames S.A. (NASDAQ:NGMS)

M&T Bank Corp boosted its stake in shares of NeoGames S.A. (NASDAQ:NGMS – Get Rating) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,091 shares of the company’s stock after buying an additional 5,633 shares during the quarter. M&T Bank Corp’s holdings in NeoGames were worth $486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NGMS. American International Group Inc. grew its position in shares of NeoGames by 19.8% in the 2nd quarter. American International Group Inc. now owns 6,153 shares of the company’s stock worth $83,000 after buying an additional 1,018 shares during the last quarter. UBS Group AG increased its holdings in NeoGames by 344.6% in the 4th quarter. UBS Group AG now owns 6,785 shares of the company’s stock worth $83,000 after acquiring an additional 5,259 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of NeoGames by 155.5% during the fourth quarter. Bank of America Corp DE now owns 7,733 shares of the company’s stock worth $94,000 after buying an additional 4,706 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of NeoGames during the first quarter worth $180,000. Finally, Rhumbline Advisers purchased a new stake in shares of NeoGames during the second quarter worth $192,000. Institutional investors own 55.18% of the company’s stock.

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NeoGames Stock Down 0.3 %

Shares of NGMS opened at $27.15 on Monday. The business’s fifty day moving average price is $17.98 and its 200 day moving average price is $15.32. NeoGames S.A. has a 12-month low of $10.85 and a 12-month high of $27.77. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.19 and a current ratio of 1.19.

NeoGames (NASDAQ:NGMS – Get Rating) last released its earnings results on Monday, March 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.31. NeoGames had a positive return on equity of 10.94% and a negative net margin of 9.38%. The firm had revenue of $69.22 million for the quarter, compared to analyst estimates of $64.01 million. Research analysts anticipate that NeoGames S.A. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NGMS. Deutsche Bank Aktiengesellschaft upped their price objective on shares of NeoGames from $17.00 to $19.00 in a report on Friday, March 10th. Jefferies Financial Group lowered shares of NeoGames from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Truist Financial downgraded NeoGames from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Stifel Nicolaus downgraded NeoGames from a “buy” rating to a “hold” rating in a report on Thursday, May 18th. Finally, Macquarie lowered shares of NeoGames from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.75.

About NeoGames

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NeoGames SA provides iLottery 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. It also develops and operates online lotteries and games that allows lottery operators to distribute lottery products through online sales channels using the company's technology.

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