PLAYSTUDIOS (NASDAQ:MYPS) PT Lowered to $3.50

PLAYSTUDIOS (NASDAQ:MYPS) had its target price reduced by equities researchers at Stifel Nicolaus from $4.00 to $3.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 148.23% from the company’s current price.

A number of other equities analysts have also recently commented on MYPS. Benchmark cut PLAYSTUDIOS from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Craig Hallum cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $4.00 to $2.00 in a research report on Tuesday, August 6th. Finally, Northland Securities decreased their target price on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th.

PLAYSTUDIOS Stock Down 4.7 %

Shares of MYPS stock opened at $1.41 on Friday. PLAYSTUDIOS has a 12-month low of $1.40 and a 12-month high of $3.04. The firm has a 50 day moving average price of $1.53 and a two-hundred day moving average price of $1.99. The company has a market capitalization of $190.07 million, a PE ratio of -10.85 and a beta of 0.59.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $72.59 million for the quarter, compared to analyst estimates of $73.49 million. PLAYSTUDIOS had a negative return on equity of 7.25% and a negative net margin of 6.34%. During the same quarter last year, the company earned ($0.02) EPS. As a group, research analysts expect that PLAYSTUDIOS will post -0.06 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total value of $37,500.00. Following the transaction, the chief financial officer now owns 583,998 shares in the company, valued at $875,997. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MYPS. Williams & Novak LLC boosted its stake in PLAYSTUDIOS by 25.2% during the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after purchasing an additional 7,180 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of PLAYSTUDIOS by 82.4% in the third quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock valued at $46,000 after purchasing an additional 13,846 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of PLAYSTUDIOS during the second quarter valued at about $68,000. Rubric Capital Management LP boosted its holdings in PLAYSTUDIOS by 14.5% during the second quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock worth $5,612,000 after purchasing an additional 342,413 shares during the last quarter. Finally, Sei Investments Co. grew its position in PLAYSTUDIOS by 17.2% in the 2nd quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock worth $156,000 after purchasing an additional 11,057 shares in the last quarter. 37.52% of the stock is owned by institutional investors and hedge funds.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.