Galaxy Gaming (OTCMKTS:GLXZ – Get Free Report) released its quarterly earnings results on Monday. The company reported $0.20 earnings per share for the quarter, Zacks reports. Galaxy Gaming had a net margin of 15.79% and a negative return on equity of 29.00%.
Galaxy Gaming Stock Down 1.3%
Shares of OTCMKTS:GLXZ opened at $1.58 on Tuesday. The company’s 50-day moving average price is $1.61 and its 200 day moving average price is $1.77. The company has a market cap of $39.75 million, a PE ratio of 8.32 and a beta of 0.42. Galaxy Gaming has a fifty-two week low of $1.42 and a fifty-two week high of $2.99.
Galaxy Gaming announced that its Board of Directors has authorized a stock buyback program on Wednesday, July 22nd that authorizes the company to buy back $4 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.5% of its shares through open market purchases. Share repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
About Galaxy Gaming
Galaxy Gaming, Inc is a gaming technology and casino entertainment company that develops, licenses and distributes proprietary casino table games, electronic gaming products and related systems. Its offerings are designed for land-based casinos, online gaming operators and other regulated gaming businesses.
The company’s portfolio has included proprietary table games, side bets, progressive jackpots and electronic versions of casino games. Galaxy Gaming also provides casino management and jackpot systems, game content and licensing services, allowing operators to offer its products under regulatory approvals in applicable jurisdictions.
Founded in 1997 and headquartered in Las Vegas, Nevada, Galaxy Gaming has historically served casino operators in the United States and international markets.
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