PLAYSTUDIOS (NASDAQ:MYPS) Upgraded at Wall Street Zen

PLAYSTUDIOS (NASDAQ:MYPS) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Wednesday, June 24th. Craig Hallum reaffirmed a “buy” rating and set a $1.00 price target on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1.25.

PLAYSTUDIOS Stock Performance

NASDAQ:MYPS opened at $0.63 on Friday. The stock has a 50 day simple moving average of $0.50 and a 200 day simple moving average of $0.53. The stock has a market cap of $80.51 million, a P/E ratio of -2.24 and a beta of 0.96. PLAYSTUDIOS has a 1-year low of $0.40 and a 1-year high of $1.34.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $58.41 million during the quarter, compared to analyst estimates of $52.69 million. PLAYSTUDIOS had a negative net margin of 15.79% and a negative return on equity of 14.38%. As a group, sell-side analysts forecast that PLAYSTUDIOS will post -0.24 EPS for the current year.

Institutional Investors Weigh In On PLAYSTUDIOS

Several institutional investors and hedge funds have recently bought and sold shares of MYPS. NewEdge Advisors LLC increased its holdings in PLAYSTUDIOS by 5,260.6% in the 1st quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock valued at $170,000 after buying an additional 131,515 shares during the period. Jane Street Group LLC acquired a new position in shares of PLAYSTUDIOS in the 1st quarter valued at approximately $203,000. JPMorgan Chase & Co. lifted its holdings in shares of PLAYSTUDIOS by 75.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 420,165 shares of the company’s stock worth $550,000 after acquiring an additional 181,210 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of PLAYSTUDIOS by 35.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock worth $4,378,000 after acquiring an additional 870,521 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of PLAYSTUDIOS during the 2nd quarter worth approximately $1,287,000. Institutional investors own 37.52% of the company’s stock.

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.