Acadian Asset Management LLC Decreases Holdings in PlayAGS Inc (NYSE:AGS)

Acadian Asset Management LLC lessened its stake in shares of PlayAGS Inc (NYSE:AGS) by 9.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 532,206 shares of the company’s stock after selling 57,969 shares during the period. Acadian Asset Management LLC owned about 1.35% of PlayAGS worth $6,119,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of PlayAGS by 3.4% in the first quarter. Vanguard Group Inc. now owns 2,164,855 shares of the company’s stock worth $19,440,000 after purchasing an additional 70,799 shares in the last quarter. Brigade Capital Management LP increased its stake in shares of PlayAGS by 2.2% in the fourth quarter. Brigade Capital Management LP now owns 1,837,228 shares of the company’s stock worth $15,488,000 after purchasing an additional 39,181 shares in the last quarter. Boston Partners increased its stake in shares of PlayAGS by 214.2% in the first quarter. Boston Partners now owns 827,069 shares of the company’s stock worth $7,426,000 after purchasing an additional 563,843 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of PlayAGS in the first quarter worth about $5,841,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of PlayAGS in the first quarter worth about $4,026,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Analyst Ratings Changes

AGS has been the subject of several recent research reports. Stifel Nicolaus downgraded shares of PlayAGS from a “buy” rating to a “hold” rating and lifted their target price for the stock from $12.00 to $12.50 in a research note on Thursday, May 23rd. B. Riley restated a “neutral” rating and issued a $12.50 price objective (down from $16.00) on shares of PlayAGS in a research report on Monday, August 5th.

PlayAGS Price Performance

AGS stock opened at $11.28 on Thursday. The firm has a 50 day moving average of $11.36 and a 200-day moving average of $10.49. The company has a current ratio of 3.06, a quick ratio of 2.43 and a debt-to-equity ratio of 7.65. PlayAGS Inc has a 12 month low of $6.27 and a 12 month high of $11.75. The firm has a market capitalization of $453.91 million, a P/E ratio of 94.00 and a beta of 2.36.

PlayAGS (NYSE:AGS) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.10). PlayAGS had a net margin of 1.25% and a return on equity of 6.89%. The firm had revenue of $96.74 million during the quarter, compared to the consensus estimate of $94.93 million. As a group, sell-side analysts predict that PlayAGS Inc will post 0.45 earnings per share for the current fiscal year.

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.