Alpine Associates Management Inc. Increases Position in PlayAGS Inc (NYSE:AGS)

Alpine Associates Management Inc. lifted its position in PlayAGS Inc (NYSE:AGS) by 11.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702,117 shares of the company’s stock after purchasing an additional 171,274 shares during the period. Alpine Associates Management Inc. owned about 4.23% of PlayAGS worth $19,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of PlayAGS by 3.4% in the first quarter. Vanguard Group Inc. now owns 2,164,855 shares of the company’s stock worth $19,440,000 after purchasing an additional 70,799 shares in the last quarter. Renaissance Technologies LLC grew its stake in PlayAGS by 15.1% during the second quarter. Renaissance Technologies LLC now owns 1,771,742 shares of the company’s stock valued at $20,375,000 after acquiring an additional 232,500 shares in the last quarter. Water Island Capital LLC purchased a new position in PlayAGS during the second quarter valued at $10,432,000. Boston Partners grew its stake in PlayAGS by 214.2% during the first quarter. Boston Partners now owns 827,069 shares of the company’s stock valued at $7,426,000 after acquiring an additional 563,843 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in PlayAGS by 1.8% during the first quarter. Acadian Asset Management LLC now owns 590,175 shares of the company’s stock valued at $5,299,000 after acquiring an additional 10,301 shares in the last quarter. 77.44% of the stock is owned by hedge funds and other institutional investors.

PlayAGS Stock Performance

AGS opened at $11.70 on Wednesday. The stock has a market capitalization of $478.88 million, a price-to-earnings ratio of 68.82 and a beta of 2.35. The company has a fifty day moving average of $11.53 and a 200 day moving average of $11.41. PlayAGS Inc has a fifty-two week low of $7.21 and a fifty-two week high of $11.75. The company has a debt-to-equity ratio of 7.49, a quick ratio of 2.64 and a current ratio of 3.35.

Wall Street Analyst Weigh In

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

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.