Short Interest in PlayAGS Inc (NYSE:AGS) Drops By 57.6%

PlayAGS Inc (NYSE:AGS) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 145,700 shares, a drop of 57.6% from the September 15th total of 343,500 shares. Based on an average daily trading volume, of 242,600 shares, the days-to-cover ratio is presently 0.6 days.

PlayAGS Stock Performance

Shares of NYSE:AGS traded down $0.01 on Friday, reaching $11.60. 52,538 shares of the company’s stock were exchanged, compared to its average volume of 371,016. The firm has a market capitalization of $466.78 million, a price-to-earnings ratio of 105.56 and a beta of 2.36. PlayAGS has a fifty-two week low of $6.70 and a fifty-two week high of $11.75. The business’s 50-day moving average is $11.36 and its two-hundred day moving average is $10.84. The company has a quick ratio of 2.43, a current ratio of 3.06 and a debt-to-equity ratio of 7.65.

PlayAGS (NYSE:AGS) last issued its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.10). The business had revenue of $96.74 million for the quarter, compared to analyst estimates of $94.93 million. PlayAGS had a return on equity of 6.89% and a net margin of 1.25%. As a group, equities research analysts forecast that PlayAGS will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Separately, B. Riley restated a “neutral” rating and set a $12.50 price objective (down previously from $16.00) on shares of PlayAGS in a research note on Monday, August 5th.

Institutional Trading of PlayAGS

A number of institutional investors and hedge funds have recently modified their holdings of AGS. Price T Rowe Associates Inc. MD acquired a new stake in shares of PlayAGS in the 1st quarter worth about $96,000. SG Americas Securities LLC acquired a new stake in shares of PlayAGS in the 3rd quarter worth about $150,000. Harbor Capital Advisors Inc. increased its holdings in shares of PlayAGS by 65.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,989 shares of the company’s stock worth $172,000 after acquiring an additional 5,906 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of PlayAGS by 14.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,489 shares of the company’s stock worth $178,000 after acquiring an additional 1,973 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of PlayAGS in the 2nd quarter worth about $181,000. 77.44% of the stock is owned by institutional investors and hedge funds.

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.