Wall Street Zen Upgrades PLAYSTUDIOS (NASDAQ:MYPS) to “Sell”

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

Several other equities research analysts have also commented on MYPS. Craig Hallum reaffirmed a “buy” rating and issued a $1.00 price target on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. Benchmark reaffirmed a “hold” rating on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. Zacks Research raised shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Friday, March 27th. One equities research 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 data from MarketBeat, PLAYSTUDIOS presently has an average rating of “Hold” and a consensus price target of $1.25.

PLAYSTUDIOS Stock Performance

NASDAQ:MYPS opened at $0.61 on Friday. PLAYSTUDIOS has a one year low of $0.40 and a one year high of $1.58. The firm has a market cap of $78.29 million, a price-to-earnings ratio of -2.18 and a beta of 0.93. The firm’s fifty day moving average is $0.47 and its two-hundred day moving average is $0.54.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). PLAYSTUDIOS had a negative net margin of 15.79% and a negative return on equity of 14.38%. The business had revenue of $58.41 million during the quarter, compared to analysts’ expectations of $52.69 million. As a group, equities research analysts predict that PLAYSTUDIOS will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Williams & Novak LLC lifted its stake in PLAYSTUDIOS by 27.2% in the 4th quarter. Williams & Novak LLC now owns 104,900 shares of the company’s stock valued at $68,000 after buying an additional 22,450 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new position in PLAYSTUDIOS in the 3rd quarter valued at about $30,000. Wells Fargo & Company MN lifted its stake in PLAYSTUDIOS by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after buying an additional 31,685 shares in the last quarter. Mackenzie Financial Corp lifted its stake in PLAYSTUDIOS by 4.5% in the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock valued at $565,000 after buying an additional 36,905 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in PLAYSTUDIOS by 7.2% in the 4th quarter. Renaissance Technologies LLC now owns 596,170 shares of the company’s stock valued at $388,000 after buying an additional 40,200 shares in the last quarter. 37.52% of the stock is owned by hedge funds and other institutional investors.

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.