PLAYSTUDIOS (NASDAQ:MYPS) Given New $1.50 Price Target at Macquarie

PLAYSTUDIOS (NASDAQ:MYPS) had its price objective trimmed by Macquarie from $2.00 to $1.50 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. restated an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Benchmark restated a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, PLAYSTUDIOS has a consensus rating of “Hold” and an average target price of $3.20.

PLAYSTUDIOS Stock Performance

MYPS stock opened at $1.24 on Wednesday. The company’s 50-day simple moving average is $1.69 and its 200 day simple moving average is $1.68. PLAYSTUDIOS has a 52 week low of $1.14 and a 52 week high of $3.04. The company has a market capitalization of $154.61 million, a PE ratio of -6.53, a price-to-earnings-growth ratio of 17.60 and a beta of 0.81.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in PLAYSTUDIOS by 18.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock worth $4,430,000 after buying an additional 368,879 shares in the last quarter. Geode Capital Management LLC grew its stake in PLAYSTUDIOS by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,226,873 shares of the company’s stock worth $4,143,000 after buying an additional 15,853 shares in the last quarter. State Street Corp grew its stake in PLAYSTUDIOS by 0.7% during the third quarter. State Street Corp now owns 1,733,679 shares of the company’s stock worth $2,618,000 after buying an additional 12,472 shares in the last quarter. JPMorgan Chase & Co. grew its stake in PLAYSTUDIOS by 932.5% during the third quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock worth $1,995,000 after buying an additional 1,193,071 shares in the last quarter. Finally, Northern Trust Corp grew its stake in PLAYSTUDIOS by 6.1% during the fourth quarter. Northern Trust Corp now owns 786,880 shares of the company’s stock worth $1,464,000 after buying an additional 44,983 shares in the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

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.