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

Macquarie cut shares of PLAYSTUDIOS (NASDAQ:MYPS) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. reissued an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their price target on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.63.

PLAYSTUDIOS Stock Up 0.5 %

Shares of NASDAQ:MYPS opened at $1.83 on Wednesday. The company has a market capitalization of $228.16 million, a P/E ratio of -9.63, a P/E/G ratio of 2.77 and a beta of 0.81. PLAYSTUDIOS has a 52-week low of $1.20 and a 52-week high of $3.04. The stock’s fifty day simple moving average is $1.90 and its 200-day simple moving average is $1.74.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly 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. The company had revenue of $71.23 million for the quarter, compared to analysts’ expectations of $69.62 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. During the same period last year, the company earned $0.02 EPS. On average, sell-side analysts anticipate that PLAYSTUDIOS will post -0.16 earnings per share for the current year.

Insider Transactions at PLAYSTUDIOS

In related news, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. This represents a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.29% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of PLAYSTUDIOS by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock valued at $3,339,000 after acquiring an additional 215,347 shares during the period. State Street Corp raised its position in PLAYSTUDIOS by 0.7% in 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 during the period. JPMorgan Chase & Co. boosted its position in shares of PLAYSTUDIOS by 932.5% in 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 during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in PLAYSTUDIOS by 5.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,626 shares of the company’s stock worth $1,069,000 after acquiring an additional 35,391 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in PLAYSTUDIOS by 21.5% in the 2nd quarter. Renaissance Technologies LLC now owns 360,000 shares of the company’s stock worth $745,000 after acquiring an additional 63,800 shares during the period. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

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.