Short Interest in PlayAGS Inc (NYSE:AGS) Declines By 25.4%


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PlayAGS Inc (NYSE:AGS) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 575,700 shares, a decline of 25.4% from the March 31st total of 771,400 shares. Based on an average daily volume of 338,500 shares, the short-interest ratio is presently 1.7 days. Currently, 2.1% of the shares of the stock are sold short.

NYSE AGS traded down $0.46 on Tuesday, hitting $8.54. 268,404 shares of the company were exchanged, compared to its average volume of 329,874. The firm has a 50 day moving average of $8.29 and a two-hundred day moving average of $6.36. The company has a market cap of $311.17 million, a P/E ratio of -4.54 and a beta of 3.48. The company has a current ratio of 4.83, a quick ratio of 4.06 and a debt-to-equity ratio of 9.91. PlayAGS has a 1-year low of $2.50 and a 1-year high of $10.39.

PlayAGS (NYSE:AGS) last issued its quarterly earnings results on Thursday, March 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.09). The company had revenue of $46.62 million for the quarter, compared to analyst estimates of $48.48 million. PlayAGS had a negative return on equity of 67.28% and a negative net margin of 33.66%. Research analysts anticipate that PlayAGS will post -2.23 EPS for the current fiscal year.

Several equities research analysts have recently commented on the stock. Credit Suisse Group upgraded shares of PlayAGS from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $3.72 to $13.00 in a research note on Thursday, March 18th. Roth Capital boosted their target price on shares of PlayAGS from $8.50 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, February 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PlayAGS from $6.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, March 5th. Zacks Investment Research upgraded shares of PlayAGS from a “sell” rating to a “hold” rating in a research note on Tuesday, March 9th. Finally, Jefferies Financial Group cut PlayAGS from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Tuesday, January 19th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $8.66.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in PlayAGS by 4.4% during the 4th quarter. BlackRock Inc. now owns 2,109,440 shares of the company’s stock valued at $15,187,000 after purchasing an additional 89,664 shares during the period. Renaissance Technologies LLC lifted its position in PlayAGS by 27.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,407,137 shares of the company’s stock valued at $10,131,000 after purchasing an additional 306,318 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in PlayAGS during the 1st quarter valued at about $5,148,000. Russell Investments Group Ltd. lifted its position in PlayAGS by 348.8% during the 4th quarter. Russell Investments Group Ltd. now owns 485,824 shares of the company’s stock valued at $3,495,000 after purchasing an additional 377,569 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in PlayAGS by 145.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,448 shares of the company’s stock valued at $1,386,000 after purchasing an additional 231,845 shares during the period. Institutional investors own 79.36% 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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