Take off with PlayAGS Inc. (AGS): Get ready for trading

PlayAGS Inc. (NYSE: AGS) stock jumped 25.25% on Friday to $7.51 against a previous-day closing price of $6.00. With 2.67 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.34 million shares. During the session, the Gambling company that operates in wider Consumer Cyclical sector, reached to the highest price of $8.40 whereas the lowest price it dropped to was $5.98. The 52-week range on AGS shows that it touched its highest point at $10.45 and its lowest point at $4.21 during that stretch. It currently has a 1-year price target of $11.00. Beta for the stock currently stands at 2.56.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AGS was up-trending over the past week, with a rise of 49.11%, but this was up by 78.08% over a month. Three-month performance surged to 45.36% while six-month performance fell -4.75%. The stock lost -5.83% in the past year, while it has gained 10.68% so far this year. A look at the trailing 12-month EPS for AGS yields -0.59 with Next year EPS estimates of 0.26. For the next quarter, that number is 0.00. This implies an EPS growth rate of 74.30% for this year and 189.70% for next year.

Float and Shares Shorts:

At present, 37.00 million AGS shares are outstanding with a float of 36.57 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.17 million, which was 3.15% higher than short shares on Jun 14, 2022. In addition to Mr. David B. Lopez as the firm’s CEO, Pres & Director, Mr. Kimo Akiona serves as its CFO, Chief Accounting Officer & Treasurer.

Institutional Ownership:

Through their ownership of 85.08% of AGS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.81% of AGS, in contrast to 37.27% held by mutual funds. Shares owned by individuals account for 20.87%. As the largest shareholder in AGS with 9.43% of the stake, HG Vora Capital Management LLC holds 3,500,000 shares worth 3,500,000. A second-largest stockholder of AGS, ArrowMark Colorado Holdings LLC, holds 2,775,985 shares, controlling over 7.48% of the firm’s shares. Goldman Sachs & Co. LLC is the third largest shareholder in AGS, holding 1,930,579 shares or 5.20% stake. With a 3.10% stake in AGS, the Meridian Small Cap Growth Fund is the largest stakeholder. A total of 1,148,392 shares are owned by the mutual fund manager. The Emerald Growth Fund, which owns about 2.17% of AGS stock, is the second-largest Mutual Fund holder. It holds 804,879 shares valued at 3.82 million. Vanguard Total Stock Market Index holds 2.12% of the stake in AGS, owning 787,936 shares worth 3.73 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AGS since 8 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AGS analysts setting a high price target of $16.00 and a low target of $6.00, the average target price over the next 12 months is $11.00. Based on these targets, AGS could surge 113.05% to reach the target high and fall by -20.11% to reach the target low. Reaching the average price target will result in a growth of 46.47% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AGS will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of -$0.07 being high and -$0.72 being low. For AGS, this leads to a yearly average estimate of -$0.29. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. PlayAGS Inc. surprised analysts by $0.06 when it reported $0.04 EPS against a consensus estimate of -$0.02. The surprise factor in the prior quarter was -$0.24. Based on analyst estimates, the high estimate for the next quarter is $0.10 and the low estimate is -$0.22. The average estimate for the next quarter is thus -$0.01.

Summary of Insider Activity:

Insiders traded AGS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 34,660 while 32,050 shares were sold.

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