ValuEngine upgraded shares of Nevada Gold & Casinos (NYSEMKT:UWN) from a hold rating to a buy rating in a research report report published on Friday morning.

Shares of Nevada Gold & Casinos (NYSEMKT:UWN) remained flat at $2.39 during trading on Friday. The company had a trading volume of 2,120 shares. The firm has a 50 day moving average price of $2.35 and a 200 day moving average price of $2.26. Nevada Gold & Casinos has a one year low of $1.55 and a one year high of $2.63. The firm has a market cap of $40.24 million and a PE ratio of 79.67.

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Nevada Gold & Casinos announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 12th that permits the company to repurchase $2.00 million in shares. This repurchase authorization permits the company to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Several large investors have recently modified their holdings of UWN. Vanguard Group Inc. increased its stake in shares of Nevada Gold & Casinos by 0.3% in the second quarter. Vanguard Group Inc. now owns 353,436 shares of the company’s stock worth $792,000 after buying an additional 1,007 shares during the period. Private Advisor Group LLC increased its position in shares of Nevada Gold & Casinos by 12.1% in the second quarter. Private Advisor Group LLC now owns 69,599 shares of the company’s stock worth $155,000 after buying an additional 7,500 shares during the last quarter. Lafitte Capital Management LP bought a new position in shares of Nevada Gold & Casinos during the first quarter worth approximately $1,771,000. Finally, Renaissance Technologies LLC increased its position in shares of Nevada Gold & Casinos by 5.3% in the first quarter. Renaissance Technologies LLC now owns 997,880 shares of the company’s stock worth $2,125,000 after buying an additional 50,480 shares during the last quarter.

Nevada Gold & Casinos Company Profile

Nevada Gold & Casinos, Inc is a gaming company involved in financing, developing, owning and operating gaming properties and projects. The Company’s segments include Washington, South Dakota, Nevada and Corporate. The Company operated a portfolio of nine mini-casinos in Washington State (Washington), which include restaurants, bars and approximately 126 table games, at April 30, 2016.

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