Rubric Capital Management LP Purchases 342,413 Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Rubric Capital Management LP raised its stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 14.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,711,190 shares of the company’s stock after acquiring an additional 342,413 shares during the quarter. Rubric Capital Management LP owned approximately 2.01% of PLAYSTUDIOS worth $5,612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in PLAYSTUDIOS during the 4th quarter valued at $31,000. Simplicity Wealth LLC bought a new stake in PLAYSTUDIOS during the 2nd quarter valued at $25,000. Quadrature Capital Ltd bought a new stake in PLAYSTUDIOS during the 4th quarter valued at $55,000. Price T Rowe Associates Inc. MD boosted its position in 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 in the last quarter. Finally, Williams & Novak LLC bought a new stake in PLAYSTUDIOS during the 2nd quarter valued at $59,000. Institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Stock Down 0.7 %

Shares of MYPS stock opened at $1.49 on Friday. The stock has a market cap of $200.86 million, a PE ratio of -11.46 and a beta of 0.59. The business has a 50-day simple moving average of $1.74 and a 200-day simple moving average of $2.12. PLAYSTUDIOS, Inc. has a 52-week low of $1.43 and a 52-week high of $3.28.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $72.59 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted ($0.02) EPS. Sell-side analysts anticipate that PLAYSTUDIOS, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.