Brokerages Set PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Target Price at $2.80

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.80.

Several research firms recently issued reports on MYPS. Craig Hallum raised PLAYSTUDIOS from a “hold” rating to a “buy” rating and upped their price target for the company from $2.00 to $3.00 in a research report on Friday, May 23rd. Macquarie lowered their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, Benchmark raised PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 target price for the company in a research note on Tuesday, May 6th.

Insider Buying and Selling

In related news, General Counsel Joel Agena sold 20,490 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $1.41, for a total value of $28,890.90. Following the transaction, the general counsel now directly owns 279,711 shares of the company’s stock, valued at approximately $394,392.51. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott Edward Peterson sold 29,601 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total value of $37,297.26. Following the completion of the sale, the chief financial officer now directly owns 504,397 shares in the company, valued at $635,540.22. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,562 shares of company stock valued at $153,067. Corporate insiders own 14.67% of the company’s stock.

Institutional Trading of PLAYSTUDIOS

Several institutional investors have recently modified their holdings of MYPS. Proficio Capital Partners LLC acquired a new stake in shares of PLAYSTUDIOS during the 4th quarter worth approximately $26,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of PLAYSTUDIOS by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company’s stock worth $1,328,000 after purchasing an additional 6,281 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of PLAYSTUDIOS during the 4th quarter worth approximately $179,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of PLAYSTUDIOS by 12.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 550,153 shares of the company’s stock worth $1,023,000 after purchasing an additional 62,075 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of PLAYSTUDIOS during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 37.52% of the company’s stock.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock opened at $1.38 on Monday. The stock has a market cap of $172.61 million, a P/E ratio of -5.75 and a beta of 0.91. The stock has a 50 day moving average of $1.40 and a 200-day moving average of $1.57. PLAYSTUDIOS has a 52 week low of $1.14 and a 52 week high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS) last released its earnings results on Monday, May 5th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $62.71 million during the quarter, compared to analysts’ expectations of $64.45 million. PLAYSTUDIOS had a negative return on equity of 5.83% and a negative net margin of 11.30%. As a group, equities analysts predict that PLAYSTUDIOS will post -0.17 earnings per share for the current fiscal year.

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.