PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Given Average Recommendation of “Hold” by Analysts

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) have been assigned an average rating of “Hold” from the five analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $2.00.

Several research analysts recently weighed in on MYPS shares. Zacks Research downgraded shares of PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th. Benchmark reduced their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 22nd. Finally, Wall Street Zen cut shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th.

Hedge Funds Weigh In On PLAYSTUDIOS

Several institutional investors have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC purchased a new position in PLAYSTUDIOS in the third quarter valued at about $30,000. Franklin Resources Inc. acquired a new stake in shares of PLAYSTUDIOS in the third quarter valued at about $46,000. Quadrature Capital Ltd purchased a new stake in shares of PLAYSTUDIOS during the 2nd quarter valued at about $49,000. Williams & Novak LLC lifted its position in PLAYSTUDIOS by 68.7% during the 3rd quarter. Williams & Novak LLC now owns 82,450 shares of the company’s stock worth $79,000 after acquiring an additional 33,590 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in PLAYSTUDIOS by 211.0% during the 3rd quarter. GSA Capital Partners LLP now owns 86,999 shares of the company’s stock worth $84,000 after acquiring an additional 59,028 shares in the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

PLAYSTUDIOS Stock Performance

MYPS stock opened at $0.68 on Friday. The stock’s 50 day moving average price is $0.74 and its 200 day moving average price is $0.98. The firm has a market cap of $85.29 million, a P/E ratio of -2.33 and a beta of 0.90. PLAYSTUDIOS has a 1 year low of $0.57 and a 1 year high of $2.00.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.07) earnings per share 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 analyst estimates of $58.77 million. On average, research analysts predict that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

PLAYSTUDIOS Company Profile

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.