PLAYSTUDIOS (NASDAQ:MYPS) Rating Lowered to Hold at Macquarie

PLAYSTUDIOS (NASDAQ:MYPS) was downgraded by Macquarie from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on MYPS. Stifel Nicolaus cut their price target on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a report on Friday, October 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of PLAYSTUDIOS in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.63.

PLAYSTUDIOS Trading Up 0.5 %

Shares of NASDAQ MYPS opened at $1.83 on Wednesday. PLAYSTUDIOS has a 12 month low of $1.20 and a 12 month high of $3.04. The company has a 50 day simple moving average of $1.90 and a two-hundred day simple moving average of $1.74. The stock has a market cap of $228.16 million, a price-to-earnings ratio of -9.63, a PEG ratio of 2.77 and a beta of 0.81.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.02) EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $69.62 million. During the same period in the previous year, the business posted $0.02 EPS. Analysts forecast that PLAYSTUDIOS will post -0.16 EPS for the current year.

Insider Buying and Selling

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the transaction, the chief financial officer now owns 558,998 shares of the company’s stock, valued at $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MYPS. Geode Capital Management LLC boosted its stake in shares of PLAYSTUDIOS by 10.8% in the third quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock valued at $3,339,000 after purchasing an additional 215,347 shares during the period. State Street Corp raised its holdings 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 purchasing an additional 12,472 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 1,193,071 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of PLAYSTUDIOS by 5.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,626 shares of the company’s stock valued at $1,069,000 after acquiring an additional 35,391 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of PLAYSTUDIOS by 21.5% in the 2nd quarter. Renaissance Technologies LLC now owns 360,000 shares of the company’s stock valued at $745,000 after acquiring an additional 63,800 shares during the period. Hedge funds and other institutional investors own 37.52% of the company’s stock.

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.