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

NEW YORK ( TheStreet) -- Shares of Multimedia Games (Nasdaq: MGAM) were gapping up Thursday morning with an open price 12.5% higher than Wednesday's closing price. The stock closed at $11.76 Wednesday and opened today's trading at $13.23.

The average volume for Multimedia Games has been 273,900 shares per day over the past 30 days. Multimedia Games has a market cap of $305.7 million and is part of the services sector and leisure industry. Shares are up 48.1% year to date as of the close of trading on Wednesday.

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 24.5, equal to the average leisure industry P/E ratio 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, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Multimedia Games Ratings Report.

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