PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.80.

Several equities analysts have commented on MYPS shares. Benchmark upgraded shares of PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 price objective on the stock in a report on Tuesday, May 6th. Craig Hallum raised PLAYSTUDIOS from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.00 to $3.00 in a research note on Friday, May 23rd.

PLAYSTUDIOS Stock Down 1.7%

Shares of PLAYSTUDIOS stock opened at $1.19 on Friday. PLAYSTUDIOS has a 12-month low of $1.14 and a 12-month high of $2.29. The company has a 50-day simple moving average of $1.39 and a 200 day simple moving average of $1.48. The stock has a market capitalization of $148.85 million, a P/E ratio of -4.96 and a beta of 0.90.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, May 5th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). PLAYSTUDIOS had a negative net margin of 11.30% and a negative return on equity of 5.83%. The firm had revenue of $62.71 million for the quarter, compared to the consensus estimate of $64.45 million. On average, equities analysts anticipate that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Joel Agena sold 20,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $1.27, for a total transaction of $25,400.00. Following the completion of the sale, the general counsel owned 35,301 shares of the company’s stock, valued at approximately $44,832.27. This represents a 36.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $1.24, for a total value of $31,000.00. Following the sale, the chief financial officer directly owned 601,421 shares of the company’s stock, valued at approximately $745,762.04. This trade represents a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,430 shares of company stock valued at $268,624 in the last 90 days. 14.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PLAYSTUDIOS

Institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in PLAYSTUDIOS by 18.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock valued at $4,430,000 after acquiring an additional 368,879 shares during the period. Bank of America Corp DE boosted its holdings in shares of PLAYSTUDIOS by 16.7% in the 4th quarter. Bank of America Corp DE now owns 216,685 shares of the company’s stock worth $403,000 after purchasing an additional 31,003 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of 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. Mackenzie Financial Corp purchased a new position in PLAYSTUDIOS during the 4th quarter valued at $490,000. Finally, Wells Fargo & Company MN boosted its holdings in PLAYSTUDIOS by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 51,671 shares of the company’s stock valued at $96,000 after acquiring an additional 11,254 shares during the period. Institutional investors own 37.52% of the company’s stock.

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.