agree with you - NGMS is good company with good assets.
the issue is about price - whether it was necessary to pay $29.50 a share when the share price has only ever traded between $11-$19 the last 12 months.....
Management have cash burning a hole in their pockets cos they raised the 1.3bio AUD rights issue last year for Playtech which fell through (and that to me seemed like a good management decision to pass given the situation).
so paying this price for NGMS - it just looks like they've gone out to buy something cos management feel forced to put the money to work...... and that rarely results in a good outcome for shareholders.... (the only saving grace is it's small in the context of ALL market cap....but it's still a waste of a couple of hundred million imo)
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Last
$45.44 |
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Mkt cap ! $28.89B |
Open | High | Low | Value | Volume |
$43.80 | $45.89 | $43.40 | $110.1M | 2.461M |
Buyers (Bids)
No. | Vol. | Price($) |
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6 | 409 | $45.44 |
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Price($) | Vol. | No. |
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$45.46 | 924 | 12 |
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3 | 117 | 45.320 |
13 | 593 | 45.310 |
5 | 643 | 45.300 |
3 | 568 | 45.290 |
Price($) | Vol. | No. |
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45.340 | 212 | 2 |
45.350 | 283 | 6 |
45.360 | 123 | 2 |
45.370 | 100 | 1 |
45.380 | 704 | 4 |
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$45.58 |
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Change
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