PLAYSTUDIOS (NASDAQ:MYPS) Upgraded at Benchmark

PLAYSTUDIOS (NASDAQ:MYPS) was upgraded by stock analysts at Benchmark from a “hold” rating to a “speculative buy” rating in a report issued on Tuesday,Finviz reports. The brokerage currently has a $2.00 price objective on the stock. Benchmark’s price objective suggests a potential upside of 42.86% from the stock’s previous close.

Separately, Macquarie cut their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.60.

PLAYSTUDIOS Trading Up 3.7 %

NASDAQ MYPS opened at $1.40 on Tuesday. The stock has a market cap of $186.85 million, a PE ratio of -7.37, a PEG ratio of 17.60 and a beta of 0.89. PLAYSTUDIOS has a 12 month low of $1.14 and a 12 month high of $2.55. The company’s 50-day moving average price is $1.32 and its 200-day moving average price is $1.62.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its earnings results on Monday, May 5th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The business had revenue of $62.71 million for the quarter, compared to the consensus estimate of $64.45 million. As a group, sell-side analysts forecast that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Insider Activity

In related news, CFO Scott Edward Peterson sold 29,601 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total transaction of $37,297.26. Following the completion of the transaction, the chief financial officer now owns 504,397 shares in the company, valued at $635,540.22. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 14.29% of the company’s stock.

Hedge Funds Weigh In On PLAYSTUDIOS

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in PLAYSTUDIOS by 932.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock valued at $1,995,000 after buying an additional 1,193,071 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of PLAYSTUDIOS by 18.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock worth $4,430,000 after acquiring an additional 368,879 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of PLAYSTUDIOS during the fourth quarter valued at about $490,000. Geode Capital Management LLC raised its position in shares of PLAYSTUDIOS by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock valued at $3,339,000 after purchasing an additional 215,347 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in PLAYSTUDIOS in the 4th quarter worth approximately $179,000. 37.52% of the stock is owned by hedge funds and other 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.