Short Interest in Playags Inc (AGS) Declines By 46.3%

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Playags Inc (NYSE:AGS) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 304,774 shares, a decline of 46.3% from the May 31st total of 567,904 shares. Based on an average daily trading volume, of 193,656 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.8% of the shares of the company are short sold.

Several brokerages recently issued reports on AGS. ValuEngine upgraded shares of Playags from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Bank of America lifted their price target on shares of Playags from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 4th. Deutsche Bank lifted their price target on shares of Playags from $23.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, March 15th. Finally, Stifel Nicolaus lifted their price target on shares of Playags from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, March 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.75.

Shares of Playags opened at $27.07 on Monday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 3.37, a quick ratio of 2.08 and a current ratio of 2.91. Playags has a 1-year low of $16.66 and a 1-year high of $27.19.

Playags (NYSE:AGS) last issued its quarterly earnings results on Thursday, May 3rd. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.02. The firm had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $60.83 million. equities analysts expect that Playags will post -0.26 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Spark Investment Management LLC purchased a new position in Playags during the first quarter valued at approximately $351,000. Alambic Investment Management L.P. purchased a new position in shares of Playags in the first quarter worth $664,000. Quad Capital Management Advisors LLC purchased a new position in shares of Playags in the first quarter worth $233,000. RWC Asset Management LLP purchased a new position in shares of Playags in the first quarter worth $7,052,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Playags in the first quarter worth $400,000.

About Playags

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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