PlayAGS (NYSE:AGS) Rating Lowered to Sell at Zacks Investment Research

PlayAGS (NYSE:AGS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday, Zacks.com reports.

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. “

Several other analysts have also issued reports on AGS. ValuEngine raised shares of PlayAGS from a “hold” rating to a “buy” rating in a research report on Thursday, April 30th. Union Gaming Research upgraded PlayAGS from a “hold” rating to a “buy” rating in a research report on Friday, May 8th. Roth Capital cut their price target on PlayAGS from $27.00 to $22.00 in a report on Thursday, March 5th. Deutsche Bank decreased their price objective on PlayAGS from $9.00 to $5.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Finally, Stifel Nicolaus cut their target price on PlayAGS from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

NYSE:AGS opened at $3.38 on Monday. The company has a market capitalization of $118.92 million, a P/E ratio of -4.57 and a beta of 2.92. The business has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $6.74. The company has a debt-to-equity ratio of 4.96, a current ratio of 3.00 and a quick ratio of 2.11. PlayAGS has a 1 year low of $0.70 and a 1 year high of $21.59.

PlayAGS (NYSE:AGS) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.33). The firm had revenue of $54.31 million during the quarter, compared to analysts’ expectations of $69.97 million. PlayAGS had a negative return on equity of 16.81% and a negative net margin of 9.12%. As a group, analysts anticipate that PlayAGS will post -2.8 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in AGS. ArrowMark Colorado Holdings LLC raised its position in PlayAGS by 3.7% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 3,649,986 shares of the company’s stock worth $9,672,000 after purchasing an additional 131,416 shares during the period. Schroder Investment Management Group lifted its stake in shares of PlayAGS by 17.4% in the 4th quarter. Schroder Investment Management Group now owns 2,022,184 shares of the company’s stock valued at $24,529,000 after acquiring an additional 300,003 shares during the last quarter. Bernzott Capital Advisors grew its position in PlayAGS by 17.6% during the 4th quarter. Bernzott Capital Advisors now owns 1,363,555 shares of the company’s stock worth $16,540,000 after acquiring an additional 203,915 shares during the last quarter. J. Goldman & Co LP grew its holdings in shares of PlayAGS by 18.8% in the fourth quarter. J. Goldman & Co LP now owns 775,855 shares of the company’s stock worth $9,411,000 after purchasing an additional 122,707 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of PlayAGS by 31.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 666,339 shares of the company’s stock worth $8,083,000 after purchasing an additional 161,323 shares during the last quarter. 85.70% of the stock is currently owned by institutional investors.

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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