PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Given Consensus Rating of “Hold” by Brokerages

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has received an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3.20.

Several research analysts have recently issued reports on the company. Benchmark reissued a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 11th. Macquarie reduced their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, March 12th.

PLAYSTUDIOS Stock Up 5.5 %

PLAYSTUDIOS stock opened at $1.35 on Friday. The firm has a 50-day moving average price of $1.33 and a two-hundred day moving average price of $1.62. PLAYSTUDIOS has a 52-week low of $1.14 and a 52-week high of $2.55. The firm has a market capitalization of $180.18 million, a price-to-earnings ratio of -7.11, a PEG ratio of 17.60 and a beta of 0.90.

Insider Buying and Selling at PLAYSTUDIOS

In related news, CFO Scott Edward Peterson sold 29,601 shares of PLAYSTUDIOS stock in a transaction on 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 directly owns 504,397 shares in the company, valued at $635,540.22. The trade was a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 14.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PLAYSTUDIOS

A number of hedge funds and other institutional investors have recently modified their holdings of MYPS. Mackenzie Financial Corp purchased a new stake in PLAYSTUDIOS during the fourth quarter valued at about $490,000. Two Sigma Investments LP lifted its position in shares of PLAYSTUDIOS by 15.7% in the 4th quarter. Two Sigma Investments LP now owns 186,152 shares of the company’s stock valued at $346,000 after acquiring an additional 25,224 shares in the last quarter. Two Sigma Advisers LP boosted its stake in PLAYSTUDIOS by 19.5% in the 4th quarter. Two Sigma Advisers LP now owns 222,900 shares of the company’s stock worth $415,000 after purchasing an additional 36,400 shares during the period. ProShare Advisors LLC grew its position in PLAYSTUDIOS by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 24,793 shares of the company’s stock worth $46,000 after purchasing an additional 8,159 shares in the last quarter. Finally, Man Group plc raised its stake in PLAYSTUDIOS by 28.1% during the 4th quarter. Man Group plc now owns 309,761 shares of the company’s stock valued at $576,000 after purchasing an additional 67,972 shares during the period. Institutional investors and hedge funds 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.