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

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $2.00.

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 22nd. Zacks Research lowered shares of PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Benchmark cut their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a report on Tuesday, November 4th. Finally, Wall Street Zen cut shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th.

PLAYSTUDIOS Trading Down 0.2%

NASDAQ MYPS opened at $0.68 on Friday. The stock has a market cap of $85.29 million, a PE ratio of -2.33 and a beta of 0.90. PLAYSTUDIOS has a twelve month low of $0.57 and a twelve month high of $2.00. The stock has a fifty day simple moving average of $0.74 and a 200-day simple moving average of $0.98.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The business had revenue of $57.65 million during the quarter, compared to analysts’ expectations of $58.77 million. PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. Research analysts predict that PLAYSTUDIOS will post -0.17 EPS for the current year.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Porfolio Solutions LLC acquired a new stake in PLAYSTUDIOS in the third quarter valued at $30,000. Franklin Resources Inc. acquired a new stake in PLAYSTUDIOS in the 3rd quarter valued at about $46,000. Quadrature Capital Ltd purchased a new position in PLAYSTUDIOS during the 2nd quarter valued at about $49,000. Williams & Novak LLC raised its position in PLAYSTUDIOS by 68.7% during the third quarter. Williams & Novak LLC now owns 82,450 shares of the company’s stock worth $79,000 after acquiring an additional 33,590 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in PLAYSTUDIOS by 211.0% during the third quarter. GSA Capital Partners LLP now owns 86,999 shares of the company’s stock worth $84,000 after acquiring an additional 59,028 shares during the last quarter. Institutional investors and hedge funds own 37.52% of the company’s stock.

About PLAYSTUDIOS

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.