Water Island Capital LLC Invests $10.43 Million in PlayAGS Inc (NYSE:AGS)

Water Island Capital LLC purchased a new position in shares of PlayAGS Inc (NYSE:AGS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 907,154 shares of the company's stock, valued at approximately $10,432,000. Water Island Capital LLC owned 2.30% of PlayAGS at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AGS. The Manufacturers Life Insurance Company raised its stake in shares of PlayAGS by 14.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,489 shares of the company's stock worth $178,000 after purchasing an additional 1,973 shares during the period. Cubist Systematic Strategies LLC raised its position in PlayAGS by 360.6% in the second quarter. Cubist Systematic Strategies LLC now owns 183,020 shares of the company's stock worth $2,105,000 after acquiring an additional 143,286 shares during the period. K2 Principal Fund L.P. bought a new stake in PlayAGS in the second quarter worth about $438,000. Marshall Wace LLP purchased a new position in PlayAGS in the second quarter valued at about $1,439,000. Finally, Bank of Montreal Can bought a new position in shares of PlayAGS during the 2nd quarter valued at approximately $2,650,000. Hedge funds and other institutional investors own 77.44% of the company's stock.

Analyst Upgrades and Downgrades

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

PlayAGS Stock Performance

Shares of AGS traded up $0.03 during trading hours on Monday, hitting $11.39. The company's stock had a trading volume of 151,307 shares, compared to its average volume of 380,224. The business has a 50 day simple moving average of $11.34 and a two-hundred day simple moving average of $10.69. PlayAGS Inc has a 52-week low of $6.27 and a 52-week high of $11.75. The company has a debt-to-equity ratio of 7.65, a current ratio of 3.06 and a quick ratio of 2.43. The company has a market cap of $449.39 million, a price-to-earnings ratio of 94.67 and a beta of 2.36.

PlayAGS (NYSE:AGS - Get Free Report) last released its quarterly earnings data 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). PlayAGS had a net margin of 1.25% and a return on equity of 6.89%. The business had revenue of $96.74 million during the quarter, compared to analysts' expectations of $94.93 million. On average, equities analysts expect that PlayAGS Inc will post 0.43 earnings per share for the current fiscal year.

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.