PLAYSTUDIOS Shares to Reverse Split on Thursday, October 1st (NASDAQ:MYPS)

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) shares are scheduled to reverse split before the market opens on Thursday, October 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 30th.

PLAYSTUDIOS Stock Performance

Shares of MYPS opened at $0.48 on Friday. The firm has a market cap of $57.21 million, a PE ratio of -1.32 and a beta of 0.96. PLAYSTUDIOS has a 52-week low of $0.40 and a 52-week high of $1.01. The business’s 50 day moving average price is $0.56 and its two-hundred day moving average price is $0.53.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). PLAYSTUDIOS had a negative net margin of 20.65% and a negative return on equity of 19.61%. The company had revenue of $54.99 million during the quarter, compared to the consensus estimate of $57.05 million.

Analysts Set New Price Targets

A number of research firms have weighed in on MYPS. Weiss Ratings lowered shares of PLAYSTUDIOS from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 21st. Wall Street Zen raised PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.25.

Institutional Investors Weigh In On PLAYSTUDIOS

An institutional investor recently bought a new position in PLAYSTUDIOS stock. Marquette Asset Management LLC acquired a new stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 406,344 shares of the company’s stock, valued at approximately $203,000. Marquette Asset Management LLC owned approximately 0.32% of PLAYSTUDIOS at the end of the most recent quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc is a mobile and social gaming company that develops and operates free-to-play casual and social casino games. Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live, which are designed for play on mobile devices and other digital platforms.

The company’s games are built around its playAWARDS loyalty program, which allows players to earn points and redeem them for real-world rewards. These rewards may include hotel stays, dining, entertainment, travel and other experiences offered through participating partners.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS serves players internationally through digital distribution platforms.