PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Given Consensus Recommendation of “Hold” by Analysts

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $3.20.

Several brokerages recently issued reports on MYPS. JPMorgan Chase & Co. reissued an “underweight” rating on shares of PLAYSTUDIOS in a report on Wednesday, December 18th. Benchmark reiterated a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 11th. Finally, Macquarie reduced their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, March 12th.

Insider Transactions at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 29,601 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total value of $37,297.26. Following the completion of the transaction, the chief financial officer now directly owns 504,397 shares in the company, valued at $635,540.22. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.29% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors have recently added to or reduced their stakes in MYPS. JPMorgan Chase & Co. increased its position in shares of PLAYSTUDIOS by 932.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock valued at $1,995,000 after purchasing an additional 1,193,071 shares during the period. Ameriprise Financial Inc. boosted 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 valued at $4,430,000 after buying an additional 368,879 shares in the last quarter. Mackenzie Financial Corp acquired a new position in PLAYSTUDIOS during the fourth quarter worth about $490,000. Geode Capital Management LLC raised its position in PLAYSTUDIOS by 10.8% in the third quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock worth $3,339,000 after acquiring an additional 215,347 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in PLAYSTUDIOS in the 4th quarter valued at about $179,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

PLAYSTUDIOS Stock Performance

Shares of NASDAQ:MYPS opened at $1.28 on Wednesday. The company’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.65. PLAYSTUDIOS has a 1-year low of $1.14 and a 1-year high of $2.87. The stock has a market capitalization of $170.84 million, a price-to-earnings ratio of -6.74, a price-to-earnings-growth ratio of 17.60 and a beta of 0.90.

About PLAYSTUDIOS

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.