Zacks Investment Research Downgrades Amaya Inc. (AYA) to Hold

Amaya Inc. (NASDAQ:AYA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Amaya, Inc. offers technology-based products and services in the gaming industry. It operates through business-to-consumer and business-to-business segments. The company’s gaming solution includes online casino gaming systems, Ongame poker software and network solutions, Game Office player management software platform, Mosino hospitality platform; land-based gaming solutions and lottery solutions. Amaya Inc., formerly known as Amaya Gaming Group Inc., is headquartered in Pointe-Claire, Canada. “

Several other research analysts have also recently issued reports on AYA. Desjardins increased their price target on Amaya to $30.00 and gave the stock a “hold” rating in a research note on Monday, May 15th. Canaccord Genuity set a $28.00 price target on Amaya and gave the stock a “buy” rating in a research note on Saturday, March 4th. TheStreet raised Amaya from a “d+” rating to a “c” rating in a research note on Wednesday, May 24th. Finally, ValuEngine cut Amaya from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.67.

Amaya (NASDAQ AYA) traded down 0.28% during trading on Friday, reaching $17.85. 89,784 shares of the company were exchanged. The stock has a market capitalization of $2.61 billion, a PE ratio of 23.71 and a beta of 1.98. The firm’s 50 day moving average is $18.10 and its 200 day moving average is $15.78. Amaya has a 52-week low of $12.85 and a 52-week high of $20.35.

Amaya (NASDAQ:AYA) last released its quarterly earnings results on Friday, May 12th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Amaya had a return on equity of 24.47% and a net margin of 12.28%. The company had revenue of $317.32 million during the quarter, compared to analysts’ expectations of $308.63 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that Amaya will post $2.02 EPS for the current year.

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A number of large investors have recently made changes to their positions in AYA. Van ECK Associates Corp increased its stake in shares of Amaya by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 8,951 shares of the technology company’s stock valued at $127,000 after buying an additional 200 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Amaya by 148.5% in the first quarter. Tower Research Capital LLC TRC now owns 8,503 shares of the technology company’s stock valued at $145,000 after buying an additional 5,081 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Amaya during the first quarter valued at about $171,000. Scotia Capital Inc. increased its stake in shares of Amaya by 14.7% in the fourth quarter. Scotia Capital Inc. now owns 14,037 shares of the technology company’s stock valued at $198,000 after buying an additional 1,794 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Amaya by 62.8% in the first quarter. Legal & General Group Plc now owns 14,774 shares of the technology company’s stock valued at $250,000 after buying an additional 5,700 shares in the last quarter. 63.60% of the stock is owned by hedge funds and other institutional investors.

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