PLAYSTUDIOS (NASDAQ:MYPS) Upgraded at Zacks Research

Zacks Research upgraded shares of PLAYSTUDIOS (NASDAQ:MYPS) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other research firms also recently weighed in on MYPS. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. Wall Street Zen downgraded shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Benchmark decreased their price objective 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. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.00.

PLAYSTUDIOS Stock Performance

Shares of MYPS opened at $0.44 on Tuesday. PLAYSTUDIOS has a one year low of $0.43 and a one year high of $1.90. The stock has a 50-day moving average price of $0.63 and a 200 day moving average price of $0.81. The company has a market capitalization of $54.93 million, a P/E ratio of -1.50 and a beta of 0.92.

Hedge Funds Weigh In On PLAYSTUDIOS

Large investors have recently bought and sold shares of the business. Orion Porfolio Solutions LLC bought a new stake in PLAYSTUDIOS during the 3rd quarter valued at $30,000. Franklin Resources Inc. bought a new stake in shares of PLAYSTUDIOS during the third quarter valued at about $46,000. Quadrature Capital Ltd acquired a new stake in PLAYSTUDIOS in the second quarter worth about $49,000. Deutsche Bank AG bought a new position in PLAYSTUDIOS in the 4th quarter valued at about $61,000. Finally, Williams & Novak LLC grew its position in PLAYSTUDIOS by 27.2% in the 4th quarter. Williams & Novak LLC now owns 104,900 shares of the company’s stock valued at $68,000 after buying an additional 22,450 shares in the last quarter. Institutional investors 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.