PLAYSTUDIOS (NASDAQ:MYPS) Upgraded by Benchmark to Speculative Buy Rating

Benchmark upgraded shares of PLAYSTUDIOS (NASDAQ:MYPS) from a hold rating to a speculative buy rating in a research note released on Tuesday, MarketBeat.com reports. Benchmark currently has $2.00 price target on the stock.

Separately, Macquarie decreased their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, PLAYSTUDIOS currently has an average rating of “Hold” and a consensus target price of $2.60.

PLAYSTUDIOS Trading Up 5.9 %

Shares of PLAYSTUDIOS stock opened at $1.44 on Tuesday. The stock has a market capitalization of $192.19 million, a P/E ratio of -7.58, a PEG ratio of 17.60 and a beta of 0.89. The business’s fifty day moving average price is $1.31 and its 200 day moving average price is $1.62. PLAYSTUDIOS has a twelve month low of $1.14 and a twelve month high of $2.55.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The firm had revenue of $62.71 million for the quarter, compared to analyst estimates of $64.45 million. As a group, sell-side analysts predict that PLAYSTUDIOS will post -0.17 EPS for the current year.

Insider Transactions at PLAYSTUDIOS

In related news, CFO Scott Edward Peterson sold 29,601 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total value of $37,297.26. Following the transaction, the chief financial officer now owns 504,397 shares in the company, valued at approximately $635,540.22. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 14.29% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

Several hedge funds and other institutional investors have recently bought and sold shares of MYPS. JPMorgan Chase & Co. grew its position in shares of PLAYSTUDIOS by 932.5% during the third quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock worth $1,995,000 after buying an additional 1,193,071 shares in the last quarter. Barclays PLC boosted its stake in PLAYSTUDIOS by 55.9% during the 3rd quarter. Barclays PLC now owns 234,332 shares of the company’s stock valued at $354,000 after acquiring an additional 84,058 shares during the last quarter. Geode Capital Management LLC grew its holdings in PLAYSTUDIOS by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock worth $3,339,000 after acquiring an additional 215,347 shares in the last quarter. XTX Topco Ltd acquired a new position in PLAYSTUDIOS during the 4th quarter worth $34,000. Finally, SG Americas Securities LLC increased its position in shares of PLAYSTUDIOS by 26.7% in the 4th quarter. SG Americas Securities LLC now owns 38,828 shares of the company’s stock worth $72,000 after purchasing an additional 8,179 shares during the last quarter. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

PLAYSTUDIOS Company Profile

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.