PLAYSTUDIOS (NASDAQ:MYPS) Upgraded at Craig Hallum

Craig Hallum upgraded shares of PLAYSTUDIOS (NASDAQ:MYPS) from a hold rating to a buy rating in a report released on Friday morning, MarketBeat.com reports. They currently have $3.00 target price on the stock, up from their prior target price of $2.00.

A number of other equities research analysts have also commented on MYPS. Macquarie lowered their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Benchmark upgraded shares of PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 price target for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2.80.

PLAYSTUDIOS Stock Performance

Shares of MYPS opened at $1.41 on Friday. The firm has a market cap of $176.37 million, a price-to-earnings ratio of -7.42, a PEG ratio of 17.60 and a beta of 0.89. PLAYSTUDIOS has a fifty-two week low of $1.14 and a fifty-two week high of $2.46. The firm has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.63.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $62.71 million during the quarter, compared to analyst estimates of $64.45 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. As a group, equities research analysts predict that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Insider Activity at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 29,601 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total transaction of $37,297.26. Following the transaction, the chief financial officer now directly owns 504,397 shares of the company’s stock, valued at approximately $635,540.22. The trade was a 5.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new position in PLAYSTUDIOS during the 4th quarter valued at $26,000. Tower Research Capital LLC TRC increased its position in PLAYSTUDIOS by 248.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company’s stock valued at $29,000 after purchasing an additional 11,237 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in PLAYSTUDIOS during the 4th quarter valued at $33,000. XTX Topco Ltd purchased a new position in PLAYSTUDIOS during the 4th quarter valued at $34,000. Finally, ProShare Advisors LLC increased its position in PLAYSTUDIOS by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 24,793 shares of the company’s stock valued at $46,000 after purchasing an additional 8,159 shares during the period. 37.52% of the stock is 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.