According to Zacks, “PlayAGS, Inc. is a designer and supplier of electronic gaming machines and other products and services for the gaming industry. The company’s product line-up includes Class III EGMs for commercial and Native American casinos, video bingo machines for select international markets, table game products and interactive social casino products. PlayAGS, Inc. is headquartered in Las Vegas, Nevada. “
AGS has been the topic of a number of other research reports. Roth Capital cut their price target on shares of PlayAGS from $35.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Bank of America lowered shares of PlayAGS from a “buy” rating to an “underperform” rating in a report on Thursday, August 8th. Credit Suisse Group cut their price target on shares of PlayAGS from $35.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Deutsche Bank lowered shares of PlayAGS from a “buy” rating to a “hold” rating and cut their price target for the stock from $31.00 to $18.00 in a report on Thursday, August 8th. Finally, Union Gaming Research lowered shares of PlayAGS from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. PlayAGS has a consensus rating of “Hold” and an average target price of $24.14.
PlayAGS (NYSE:AGS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). The business had revenue of $74.51 million for the quarter, compared to analyst estimates of $83.00 million. PlayAGS had a negative return on equity of 0.72% and a negative net margin of 4.62%. PlayAGS’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. Analysts predict that PlayAGS will post 0.06 EPS for the current fiscal year.
In other news, CFO Kimo Akiona bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $10.55 per share, for a total transaction of $105,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adam Chibib bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $8.90 per share, for a total transaction of $44,500.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 32,028 shares of company stock worth $313,353. 2.40% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of PlayAGS by 22.5% during the second quarter. BlackRock Inc. now owns 1,866,378 shares of the company’s stock worth $36,301,000 after acquiring an additional 343,293 shares in the last quarter. Polar Asset Management Partners Inc. increased its position in shares of PlayAGS by 13.6% during the second quarter. Polar Asset Management Partners Inc. now owns 1,744,743 shares of the company’s stock worth $33,935,000 after acquiring an additional 209,247 shares in the last quarter. Schroder Investment Management Group increased its position in shares of PlayAGS by 83.1% during the second quarter. Schroder Investment Management Group now owns 1,497,381 shares of the company’s stock worth $29,124,000 after acquiring an additional 679,621 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PlayAGS by 6.4% during the second quarter. Vanguard Group Inc. now owns 1,366,246 shares of the company’s stock worth $26,574,000 after acquiring an additional 81,967 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of PlayAGS during the first quarter worth about $20,195,000. Institutional investors and hedge funds own 98.69% of the company’s stock.
PlayAGS Company Profile
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Their roots are firmly planted in the Class II Native American gaming market, but their customer-centric culture and growth have helped them branch out to become a leading all-inclusive commercial gaming supplier.
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