PLAYSTUDIOS (NASDAQ:MYPS) Lowered to Hold Rating by Macquarie

Macquarie lowered shares of PLAYSTUDIOS (NASDAQ:MYPS) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on MYPS. JPMorgan Chase & Co. restated an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their target price on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.63.

PLAYSTUDIOS Stock Up 0.5 %

Shares of NASDAQ MYPS opened at $1.83 on Wednesday. PLAYSTUDIOS has a fifty-two week low of $1.20 and a fifty-two week high of $3.04. The business has a 50 day moving average price of $1.90 and a two-hundred day moving average price of $1.74. The firm has a market cap of $228.16 million, a PE ratio of -9.63, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $71.23 million during the quarter, compared to the consensus estimate of $69.62 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. During the same quarter last year, the company earned $0.02 earnings per share. On average, analysts anticipate that PLAYSTUDIOS will post -0.16 earnings per share for the current year.

Insider Activity at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the transaction, the chief financial officer now directly owns 558,998 shares of the company’s stock, valued at $972,656.52. The trade was a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 14.29% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of hedge funds have recently made changes to their positions in the business. Williams & Novak LLC grew its holdings in PLAYSTUDIOS by 25.2% in the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock worth $54,000 after buying an additional 7,180 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of PLAYSTUDIOS by 26.7% during the fourth quarter. SG Americas Securities LLC now owns 38,828 shares of the company’s stock valued at $72,000 after purchasing an additional 8,179 shares during the period. Sei Investments Co. raised its stake in shares of PLAYSTUDIOS by 17.2% during the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock valued at $156,000 after purchasing an additional 11,057 shares in the last quarter. State Street Corp lifted its holdings in PLAYSTUDIOS by 0.7% in the third quarter. State Street Corp now owns 1,733,679 shares of the company’s stock worth $2,618,000 after purchasing an additional 12,472 shares during the period. Finally, Virtu Financial LLC bought a new position in PLAYSTUDIOS in the 3rd quarter valued at about $32,000. Institutional investors own 37.52% of the company’s stock.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.