PlayAGS Inc (NYSE:AGS) Given Average Rating of “Hold” by Brokerages

Shares of PlayAGS Inc (NYSE:AGS) have been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $24.33.

AGS has been the topic of several research reports. Deutsche Bank downgraded shares of PlayAGS from a “buy” rating to a “hold” rating and decreased their price target for the company from $31.00 to $18.00 in a research note on Thursday, August 8th. Bank of America downgraded shares of PlayAGS from a “buy” rating to an “underperform” rating in a research note on Thursday, August 8th. Zacks Investment Research upgraded shares of PlayAGS from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Union Gaming Research downgraded shares of PlayAGS from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus decreased their price target on shares of PlayAGS from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd.

AGS stock opened at $11.41 on Thursday. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.47 and a current ratio of 2.04. The company’s 50-day simple moving average is $10.71 and its 200 day simple moving average is $16.90. PlayAGS has a 52 week low of $6.05 and a 52 week high of $27.85. The company has a market capitalization of $393.41 million, a PE ratio of -76.07, a price-to-earnings-growth ratio of 20.11 and a beta of 1.14.

PlayAGS (NYSE:AGS) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.23). PlayAGS had a negative net margin of 4.62% and a negative return on equity of 0.72%. The business had revenue of $74.51 million during the quarter, compared to analyst estimates of $83.00 million. During the same quarter last year, the company posted ($0.15) earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that PlayAGS will post 0.05 EPS for the current year.

In other news, CFO Kimo Akiona acquired 10,000 shares of PlayAGS stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $10.55 per share, for a total transaction of $105,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Lopez acquired 4,700 shares of PlayAGS stock in a transaction on Friday, August 16th. The shares were purchased at an average price of $10.51 per share, for a total transaction of $49,397.00. The disclosure for this purchase can be found here. Insiders have acquired 32,028 shares of company stock worth $313,353 over the last quarter. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in AGS. Schroder Investment Management Group grew its stake in 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 buying an additional 679,621 shares in the last quarter. Park West Asset Management LLC lifted its holdings in shares of PlayAGS by 35.1% in the second quarter. Park West Asset Management LLC now owns 2,350,081 shares of the company’s stock worth $45,709,000 after acquiring an additional 610,528 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PlayAGS by 22.5% in 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 during the last quarter. Nuveen Asset Management LLC bought a new position in shares of PlayAGS in the second quarter worth about $5,346,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of PlayAGS by 198.8% in the second quarter. Jacobs Levy Equity Management Inc. now owns 392,807 shares of the company’s stock worth $7,640,000 after acquiring an additional 261,343 shares during the last quarter. Hedge funds and other institutional investors own 99.82% of the company’s stock.

About PlayAGS

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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Analyst Recommendations for PlayAGS (NYSE:AGS)

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