Los Angeles Capital Management LLC Purchases New Shares in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Los Angeles Capital Management LLC purchased a new position in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 63,598 shares of the company’s stock, valued at approximately $132,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Simplicity Wealth LLC bought a new position in shares of PLAYSTUDIOS during the second quarter worth approximately $25,000. Victory Capital Management Inc. bought a new position in PLAYSTUDIOS during the 4th quarter worth $31,000. Quadrature Capital Ltd bought a new position in PLAYSTUDIOS during the 4th quarter worth $55,000. Williams & Novak LLC acquired a new position in PLAYSTUDIOS in the 2nd quarter valued at $59,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of PLAYSTUDIOS by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock valued at $70,000 after acquiring an additional 4,546 shares during the period. Institutional investors and hedge funds own 37.52% of the company’s stock.

PLAYSTUDIOS Trading Down 1.8 %

Shares of NASDAQ MYPS opened at $1.60 on Tuesday. The company has a market cap of $215.69 million, a price-to-earnings ratio of -12.31 and a beta of 0.59. PLAYSTUDIOS, Inc. has a 12 month low of $1.43 and a 12 month high of $3.41. The stock has a 50-day moving average price of $1.77 and a two-hundred day moving average price of $2.13.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. The business had revenue of $72.59 million during the quarter, compared to analysts’ expectations of $73.49 million. During the same period in the prior year, the company earned ($0.02) EPS. On average, sell-side analysts predict that PLAYSTUDIOS, Inc. will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.