PLAYSTUDIOS (NASDAQ:MYPS) Price Target Cut to $1.50 by Analysts at Macquarie

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

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

PLAYSTUDIOS Price Performance

MYPS stock opened at $1.20 on Wednesday. The company’s 50 day simple moving average is $1.72 and its 200-day simple moving average is $1.69. The firm has a market capitalization of $149.62 million, a PE ratio of -6.32, a P/E/G ratio of 17.60 and a beta of 0.81. PLAYSTUDIOS has a 12 month low of $1.20 and a 12 month high of $3.04.

Institutional Trading of PLAYSTUDIOS

Several hedge funds have recently bought and sold shares of MYPS. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of PLAYSTUDIOS by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company’s stock worth $1,328,000 after buying an additional 6,281 shares in the last quarter. ProShare Advisors LLC lifted its stake in PLAYSTUDIOS by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 24,793 shares of the company’s stock valued at $46,000 after purchasing an additional 8,159 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of PLAYSTUDIOS by 26.7% during the fourth quarter. SG Americas Securities LLC now owns 38,828 shares of the company’s stock valued at $72,000 after acquiring an additional 8,179 shares during the period. Williams & Novak LLC boosted its position in PLAYSTUDIOS by 26.9% during the 4th quarter. Williams & Novak LLC now owns 45,300 shares of the company’s stock worth $84,000 after acquiring an additional 9,600 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of PLAYSTUDIOS by 34.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company’s stock worth $74,000 after purchasing an additional 10,130 shares in the last quarter. 37.52% of the stock is currently owned by 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.