Hillsdale Investment Management Inc. Purchases Shares of 448,303 PlayAGS Inc (NYSE:AGS)

Hillsdale Investment Management Inc. purchased a new stake in PlayAGS Inc (NYSE:AGS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 448,303 shares of the company’s stock, valued at approximately $4,026,000. Hillsdale Investment Management Inc. owned about 1.11% of PlayAGS as of its most recent SEC filing.

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

PlayAGS Stock Performance

Shares of NYSE AGS traded up $0.04 during mid-day trading on Monday, hitting $11.44. 306,040 shares of the company were exchanged, compared to its average volume of 426,424. The company has a quick ratio of 2.60, a current ratio of 3.38 and a debt-to-equity ratio of 7.30. The stock has a 50 day simple moving average of $11.49 and a 200-day simple moving average of $9.80. PlayAGS Inc has a 1-year low of $6.27 and a 1-year high of $11.75. The firm has a market cap of $451.23 million, a price-to-earnings ratio of 95.29 and a beta of 2.45.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AGS. Truist Financial restated a “hold” rating and set a $12.50 target price (down from $13.00) on shares of PlayAGS in a research report on Monday, May 13th. Stifel Nicolaus lowered shares of PlayAGS from a “buy” rating to a “hold” rating and raised their target price for the stock from $12.00 to $12.50 in a research report on Thursday, May 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $13.00 price target on shares of PlayAGS in a report on Monday, April 1st. Finally, B. Riley started coverage on PlayAGS in a report on Friday, April 5th. They set a “buy” rating and a $16.00 price target for the company. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, PlayAGS currently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

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.