Benchmark Reaffirms “Buy” Rating for PLAYSTUDIOS (NASDAQ:MYPS)

PLAYSTUDIOS (NASDAQ:MYPS)‘s stock had its “buy” rating reaffirmed by Benchmark in a research note issued on Tuesday, Benzinga reports. They currently have a $5.00 price target on the stock. Benchmark’s price target points to a potential upside of 104.08% from the company’s previous close.

Separately, Stifel Nicolaus lowered their target price on PLAYSTUDIOS from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, PLAYSTUDIOS has a consensus rating of “Hold” and a consensus target price of $4.67.

PLAYSTUDIOS Stock Performance

MYPS opened at $2.45 on Tuesday. The firm’s fifty day moving average is $2.43 and its two-hundred day moving average is $2.48. The firm has a market cap of $333.71 million, a PE ratio of -16.13, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63. PLAYSTUDIOS has a twelve month low of $1.90 and a twelve month high of $5.01.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its earnings results on Monday, March 11th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.12). PLAYSTUDIOS had a negative return on equity of 7.19% and a negative net margin of 6.24%. The business had revenue of $77.11 million for the quarter, compared to the consensus estimate of $75.95 million. Equities analysts forecast that PLAYSTUDIOS will post 0.01 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Corp Microsoft sold 1,000,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $1.95, for a total transaction of $1,950,000.00. Following the completion of the transaction, the insider now directly owns 11,677,398 shares in the company, valued at $22,770,926.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 14.29% of the company’s stock.

Hedge Funds Weigh In On PLAYSTUDIOS

Several hedge funds have recently made changes to their positions in MYPS. Victory Capital Management Inc. bought a new stake in shares of PLAYSTUDIOS in the fourth quarter worth $31,000. Sherbrooke Park Advisers LLC acquired a new stake in PLAYSTUDIOS in the 3rd quarter valued at $33,000. Principal Financial Group Inc. bought a new stake in PLAYSTUDIOS during the 3rd quarter worth about $38,000. Quadrature Capital Ltd acquired a new position in shares of PLAYSTUDIOS during the 4th quarter worth about $55,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of PLAYSTUDIOS in the 4th quarter valued at about $67,000. 37.52% of the stock is owned by institutional investors.

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.