Castleark Management LLC raised its stake in Playags Inc (NYSE:AGS) by 57.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 204,550 shares of the company’s stock after buying an additional 74,890 shares during the period. Castleark Management LLC owned approximately 0.57% of Playags worth $5,537,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Caledonia Private Investments Pty Ltd purchased a new position in shares of Playags during the 1st quarter worth approximately $37,447,000. BlackRock Inc. increased its stake in shares of Playags by 84.9% during the 2nd quarter. BlackRock Inc. now owns 1,111,850 shares of the company’s stock worth $30,097,000 after purchasing an additional 510,448 shares in the last quarter. Emerald Advisers Inc. PA boosted its position in Playags by 21.1% during the second quarter. Emerald Advisers Inc. PA now owns 908,421 shares of the company’s stock worth $24,591,000 after acquiring an additional 158,250 shares during the last quarter. Park West Asset Management LLC acquired a new stake in Playags during the first quarter worth approximately $18,514,000. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Playags by 26.8% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 774,028 shares of the company’s stock worth $20,953,000 after acquiring an additional 163,772 shares during the last quarter.
In related news, major shareholder Ap Gaming Voteco, Llc sold 6,325,000 shares of Playags stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $28.01, for a total transaction of $177,163,250.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
A number of analysts recently issued reports on AGS shares. Deutsche Bank raised their target price on shares of Playags to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Playags from a “sell” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Tuesday, August 7th. SunTrust Banks reiterated a “buy” rating and issued a $35.00 price target on shares of Playags in a report on Tuesday, October 2nd. ValuEngine upgraded shares of Playags from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Playags from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, September 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $32.00.
Shares of NYSE:AGS traded up $0.38 during midday trading on Friday, hitting $28.79. 279,478 shares of the company’s stock traded hands, compared to its average volume of 301,713. Playags Inc has a twelve month low of $16.66 and a twelve month high of $32.80. The firm has a market capitalization of $1.04 billion and a price-to-earnings ratio of -14.84. The company has a current ratio of 2.74, a quick ratio of 2.01 and a debt-to-equity ratio of 3.55.
Playags (NYSE:AGS) last released its quarterly earnings results on Thursday, August 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). Playags had a negative return on equity of 40.01% and a negative net margin of 10.91%. The firm had revenue of $72.82 million for the quarter, compared to analysts’ expectations of $64.67 million. During the same period last year, the firm earned ($0.87) EPS. The business’s quarterly revenue was up 45.4% on a year-over-year basis. On average, analysts predict that Playags Inc will post -0.44 earnings per share for the current year.
PlayAGS, Inc designs and supplies electronic gaming machines (EGMs), and other products and services for the gaming industry in the United States and internationally. It operates in three segments: EGMs, Table Products, and Interactive. The EGM segment offers various video slot titles, which include ICON, Halo, Colossal Diamonds cabinet, and Orion; and conversion kits that allow existing game titles to be converted to other game titles offered within that operating platform.
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