Jacobs Levy Equity Management Inc. Lowers Holdings in PlayAGS Inc (NYSE:AGS)

Jacobs Levy Equity Management Inc. lowered its stake in shares of PlayAGS Inc (NYSE:AGS) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 535,778 shares of the company’s stock after selling 28,041 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.36% of PlayAGS worth $4,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGS. Meredith Wealth Planning acquired a new stake in shares of PlayAGS in the 4th quarter worth approximately $362,000. Mackenzie Financial Corp grew its stake in PlayAGS by 19.1% during the fourth quarter. Mackenzie Financial Corp now owns 12,593 shares of the company’s stock worth $106,000 after buying an additional 2,023 shares during the period. Federated Hermes Inc. increased its position in shares of PlayAGS by 119.9% in the fourth quarter. Federated Hermes Inc. now owns 366,870 shares of the company’s stock worth $3,093,000 after acquiring an additional 200,052 shares in the last quarter. Semanteon Capital Management LP acquired a new position in shares of PlayAGS during the 4th quarter valued at $203,000. Finally, M&T Bank Corp boosted its position in shares of PlayAGS by 9.8% in the fourth quarter. M&T Bank Corp now owns 212,320 shares of the company’s stock worth $1,790,000 after buying an additional 19,034 shares during the period. 77.44% of the stock is currently owned by institutional investors and hedge funds.

PlayAGS Stock Performance

Shares of AGS stock traded up $0.01 on Wednesday, hitting $11.46. 50,709 shares of the stock traded hands, compared to its average volume of 416,972. The company’s fifty day moving average is $11.48 and its 200 day moving average is $9.95. PlayAGS Inc has a 1-year low of $6.27 and a 1-year high of $11.75. The company has a market capitalization of $452.21 million, a PE ratio of 95.33 and a beta of 2.45. The company has a debt-to-equity ratio of 7.30, a current ratio of 3.38 and a quick ratio of 2.60.

PlayAGS (NYSE:AGS) last issued its earnings results on Thursday, May 9th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.15. The company had revenue of $95.97 million for the quarter, compared to analysts’ expectations of $88.18 million. PlayAGS had a net margin of 1.38% and a return on equity of 7.71%. On average, equities research analysts predict that PlayAGS Inc will post 0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AGS. B. Riley began coverage on shares of PlayAGS in a research report on Friday, April 5th. They issued a “buy” rating and a $16.00 price objective for the company. Stifel Nicolaus lowered shares of PlayAGS from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $12.00 to $12.50 in a report on Thursday, May 23rd. Finally, Truist Financial reissued a “hold” rating and set a $12.50 price target (down previously from $13.00) on shares of PlayAGS in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, PlayAGS has an average rating of “Moderate Buy” and a consensus target price of $13.50.

PlayAGS Company Profile

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.