Stocks quoted in this article:
Anchor Gaming (SLOT – 75-3/16) is a maker of slot machines and lottery equipment. The company announced this morning that it will split its shares two for one, and it will purchase 4.6 million shares owned by Chairman Stanley Fulton and members of his family for $66.60 per share.
The stock is up more than five points, or over seven percent, in response to this news. This upswing has carried SLOT back above both its 10-day and 20-day moving averages and placed it within a chip shot of its annual high of 77-1/4 from September 7. Since its mid-March low, the security has added 142 percent to its value, using cohesive support from its uptrending 10-week moving average.
According to information from Zacks Online, there are only four analysts currently covering the equity. Any new positive coverage could give SLOT an extra boost over the short term.