PlayAGS (NYSE:AGS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of PlayAGS (NYSE:AGS) from a buy rating to a hold rating in a research note released on Tuesday morning, 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. “

Shares of AGS stock opened at $7.04 on Tuesday. PlayAGS has a twelve month low of $4.73 and a twelve month high of $11.32. The company has a debt-to-equity ratio of 12.93, a quick ratio of 2.85 and a current ratio of 3.36. The stock’s fifty day simple moving average is $7.06 and its 200 day simple moving average is $7.85.

PlayAGS (NYSE:AGS) last issued its quarterly earnings data on Thursday, November 4th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $67.28 million for the quarter, compared to analyst estimates of $63.68 million. PlayAGS had a negative return on equity of 63.88% and a negative net margin of 13.01%. During the same quarter in the previous year, the company posted ($0.31) EPS. On average, equities analysts anticipate that PlayAGS will post -0.51 EPS for the current year.

A number of hedge funds have recently modified their holdings of AGS. Morgan Stanley grew its position in PlayAGS by 129.3% during the 3rd quarter. Morgan Stanley now owns 586,801 shares of the company’s stock worth $4,624,000 after acquiring an additional 330,884 shares during the last quarter. Goldman Sachs Group Inc. grew its position in PlayAGS by 456.3% during the 3rd quarter. Goldman Sachs Group Inc. now owns 377,076 shares of the company’s stock worth $2,971,000 after acquiring an additional 309,288 shares during the last quarter. Benefit Street Partners LLC grew its position in PlayAGS by 37.2% during the 3rd quarter. Benefit Street Partners LLC now owns 920,948 shares of the company’s stock worth $7,257,000 after acquiring an additional 249,459 shares during the last quarter. Invesco Ltd. grew its position in PlayAGS by 256.9% during the 2nd quarter. Invesco Ltd. now owns 254,756 shares of the company’s stock worth $2,522,000 after acquiring an additional 183,384 shares during the last quarter. Finally, EAM Investors LLC bought a new stake in PlayAGS during the 2nd quarter worth $1,421,000. Institutional investors and hedge funds own 81.44% 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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