Multimedia Games Stock Gaps Up On Today's Open (MGAM)

NEW YORK ( TheStreet) -- Shares of Multimedia Games (Nasdaq: MGAM) were gapping up Wednesday morning with an open price 10.9% higher than Tuesday's closing price. The stock closed at $7.53 Tuesday and opened today's trading at $8.35.

The average volume for Multimedia Games has been 177,200 shares per day over the past 30 days. Multimedia Games has a market cap of $206.2 million and is part of the services sector and leisure industry. Shares are down 3.3% year to date as of the close of trading on Tuesday.

Multimedia Games Holding Company, Inc., together with its subsidiaries, engages in the design, manufacture, distribution, and maintenance of gaming machines, video lottery terminals, and associated systems and equipment. The company has a P/E ratio of 38.4, above the average leisure industry P/E ratio of 38.1 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Multimedia Games as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Multimedia Games Ratings Report.

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