The Investment Reporter, in its Nov. 8, 2013, issue, says hold Amaya Gaming Group Inc., recently $8.39. The Reporter said buy on May 18, 2012, at $4.01, and again on June 28, 2013, at $6.32. Assuming an investment of $1,000 for each of the two buys, the $2,000 position would now be worth $3,414. The Reporter regularly examines the stock on the back page. The gaming content provider's shares have risen by nearly a third since June, 2013, but the newsletter now finds the stock too costly and has downgraded it to a hold. Amaya lost 11 cents a share last year. It is expected to earn two cents a share this year and 38 cents a share in fiscal 2014. The projected price-to-cash-flow ratio is a high 22.1. The shares also trade far above their book value of $1.89 per share. The price-to-cash-flow ratio is an excessive 98.9. The company also carries a lot of debt relative to its cash flow. On the positive side, Amaya's cash flow should increase next year, and it can add new customers at a low cost. The stock is now a hold, if you need no dividends.