Macquarie Cuts PLAYSTUDIOS (NASDAQ:MYPS) Price Target to $1.50

PLAYSTUDIOS (NASDAQ:MYPS) had its price target cut by equities researchers at Macquarie from $2.00 to $1.50 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Macquarie’s price objective indicates a potential upside of 15.83% from the company’s previous close.

Several other equities analysts have also commented on MYPS. Benchmark reiterated a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.20.

PLAYSTUDIOS Stock Down 1.9 %

NASDAQ:MYPS traded down $0.03 during midday trading on Wednesday, hitting $1.30. The company had a trading volume of 49,789 shares, compared to its average volume of 232,071. The stock’s fifty day moving average price is $1.74 and its 200-day moving average price is $1.69. PLAYSTUDIOS has a 52-week low of $1.20 and a 52-week high of $3.04. The company has a market capitalization of $161.47 million, a PE ratio of -6.82, a P/E/G ratio of 17.60 and a beta of 0.81.

Institutional Trading of PLAYSTUDIOS

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of PLAYSTUDIOS by 932.5% in the third quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock worth $1,995,000 after buying an additional 1,193,071 shares during the period. Ameriprise Financial Inc. increased its position in shares of PLAYSTUDIOS by 18.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock valued at $4,430,000 after acquiring an additional 368,879 shares during the period. Mackenzie Financial Corp bought a new position in shares of PLAYSTUDIOS during the fourth quarter valued at about $490,000. Geode Capital Management LLC boosted its holdings in shares of PLAYSTUDIOS by 10.8% during the third quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock worth $3,339,000 after purchasing an additional 215,347 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of PLAYSTUDIOS by 157.5% in the third quarter. Los Angeles Capital Management LLC now owns 163,764 shares of the company’s stock worth $247,000 after purchasing an additional 100,166 shares during the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

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.