PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Receives $3.63 Average Target Price from Brokerages

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have earned a consensus rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $3.63.

Several brokerages have issued reports on MYPS. Macquarie lowered shares of PLAYSTUDIOS from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. restated an “underweight” rating on shares of PLAYSTUDIOS in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus reduced their price objective on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, October 18th.

Insider Buying and Selling

In other news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1.74, for a total transaction of $43,500.00. Following the transaction, the chief financial officer now directly owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. The trade was a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Williams & Novak LLC boosted its position in shares of PLAYSTUDIOS by 25.2% during the third quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after purchasing an additional 7,180 shares in the last quarter. SG Americas Securities LLC boosted its stake in PLAYSTUDIOS by 26.7% during the fourth quarter. SG Americas Securities LLC now owns 38,828 shares of the company’s stock worth $72,000 after acquiring an additional 8,179 shares in the last quarter. Sei Investments Co. grew its holdings in PLAYSTUDIOS by 17.2% in the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock worth $156,000 after purchasing an additional 11,057 shares during the period. State Street Corp increased its stake in shares of PLAYSTUDIOS by 0.7% during the third quarter. State Street Corp now owns 1,733,679 shares of the company’s stock valued at $2,618,000 after purchasing an additional 12,472 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of PLAYSTUDIOS in the 3rd quarter worth approximately $32,000. 37.52% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Trading Up 2.2 %

Shares of MYPS stock opened at $1.87 on Friday. The stock has a market capitalization of $233.15 million, a P/E ratio of -9.84, a PEG ratio of 2.70 and a beta of 0.81. PLAYSTUDIOS has a 12 month low of $1.20 and a 12 month high of $3.04. The firm’s 50 day moving average is $1.90 and its 200 day moving average is $1.73.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its earnings results on Monday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The business had revenue of $71.23 million for the quarter, compared to analysts’ expectations of $69.62 million. During the same period in the prior year, the company posted $0.02 EPS. On average, equities analysts predict that PLAYSTUDIOS will post -0.16 EPS for the current year.

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.