Macquarie Has Lowered Expectations for PLAYSTUDIOS (NASDAQ:MYPS) Stock Price

PLAYSTUDIOS (NASDAQ:MYPS) had its target price reduced by analysts at Macquarie from $2.00 to $1.50 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Macquarie’s target price points to a potential upside of 30.43% from the stock’s previous close.

Several other brokerages have also recently weighed in on MYPS. JPMorgan Chase & Co. restated an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Benchmark reiterated a “hold” rating on shares of PLAYSTUDIOS in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.20.

PLAYSTUDIOS Stock Down 4.2 %

Shares of PLAYSTUDIOS stock opened at $1.15 on Wednesday. PLAYSTUDIOS has a 52 week low of $1.14 and a 52 week high of $3.04. The business has a 50 day moving average price of $1.71 and a 200-day moving average price of $1.68. The company has a market cap of $143.39 million, a PE ratio of -6.05, a price-to-earnings-growth ratio of 17.60 and a beta of 0.81.

Institutional Investors Weigh In On PLAYSTUDIOS

Hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new stake in PLAYSTUDIOS during the fourth quarter worth about $26,000. Tower Research Capital LLC TRC grew its position in shares of PLAYSTUDIOS by 248.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company’s stock valued at $29,000 after acquiring an additional 11,237 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of PLAYSTUDIOS during the 4th quarter worth approximately $33,000. XTX Topco Ltd bought a new stake in shares of PLAYSTUDIOS in the 4th quarter worth approximately $34,000. Finally, Virtu Financial LLC bought a new stake in shares of PLAYSTUDIOS in the 3rd quarter worth approximately $32,000. 37.52% of the stock is currently owned by institutional investors.

PLAYSTUDIOS Company Profile

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.