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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has earned an average recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $2.00.

A number of analysts have weighed in on MYPS shares. Wall Street Zen lowered shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday. Benchmark cut their price objective on PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a report on Tuesday, November 4th. Finally, Zacks Research cut PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th.

PLAYSTUDIOS Stock Down 0.5%

NASDAQ:MYPS opened at $0.65 on Friday. PLAYSTUDIOS has a twelve month low of $0.57 and a twelve month high of $2.00. The stock’s 50-day simple moving average is $0.71 and its 200 day simple moving average is $0.96. The firm has a market capitalization of $82.15 million, a PE ratio of -2.25 and a beta of 0.89.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its earnings results on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%.The company had revenue of $57.65 million during the quarter, compared to the consensus estimate of $58.77 million. On average, analysts anticipate that PLAYSTUDIOS will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in PLAYSTUDIOS during the 1st quarter worth approximately $277,000. Ieq Capital LLC acquired a new position in PLAYSTUDIOS in the 1st quarter valued at approximately $97,000. NewEdge Advisors LLC raised its stake in shares of PLAYSTUDIOS by 5,260.6% during the first quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock valued at $170,000 after acquiring an additional 131,515 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of PLAYSTUDIOS during the first quarter worth $203,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of PLAYSTUDIOS by 5.3% during the first quarter. Acadian Asset Management LLC now owns 1,433,255 shares of the company’s stock worth $1,816,000 after purchasing an additional 72,511 shares during the period. Institutional investors and hedge funds own 37.52% of the company’s stock.

About PLAYSTUDIOS

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.