PlayAGS (AGS) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of PlayAGS (NYSE:AGS) from a hold rating to a buy rating in a research report released on Monday, Zacks.com reports. They currently have $28.00 price objective on the stock.
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 reports. Credit Suisse Group restated an outperform rating and issued a $35.00 price objective on shares of PlayAGS in a research note on Wednesday, March 20th. Deutsche Bank restated a buy rating and issued a $32.00 price objective on shares of PlayAGS in a research note on Wednesday, March 6th. ValuEngine cut PlayAGS from a buy rating to a hold rating in a research note on Thursday, April 4th. Roth Capital began coverage on PlayAGS in a research note on Monday, April 8th. They issued a buy rating and a $35.00 price objective on the stock. Finally, Jefferies Financial Group restated a buy rating and issued a $35.00 price objective on shares of PlayAGS in a research note on Wednesday, February 13th. Ten research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus target price of $32.89.
PlayAGS (NYSE:AGS) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). PlayAGS had a negative net margin of 7.31% and a negative return on equity of 3.45%. The firm had revenue of $72.10 million during the quarter, compared to the consensus estimate of $69.89 million. As a group, sell-side analysts forecast that PlayAGS will post 0.66 EPS for the current year.
In other PlayAGS news, major shareholder Ap Gaming Voteco, Llc sold 4,000,000 shares of PlayAGS stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.50, for a total transaction of $102,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PlayAGS by 138.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,903 shares of the company’s stock valued at $44,000 after buying an additional 1,105 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in PlayAGS during the 4th quarter valued at about $54,000. Legal & General Group Plc grew its holdings in PlayAGS by 54.0% during the 3rd quarter. Legal & General Group Plc now owns 3,701 shares of the company’s stock valued at $110,000 after buying an additional 1,298 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in PlayAGS by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,237 shares of the company’s stock valued at $166,000 after buying an additional 5,652 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in PlayAGS during the 3rd quarter valued at about $221,000.
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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