PLAYSTUDIOS (NASDAQ:MYPS) Trading 6.1% Higher – Should You Buy?

PLAYSTUDIOS, Inc. (NASDAQ:MYPS)’s share price rose 6.1% on Monday . The stock traded as high as $0.5030 and last traded at $0.4904. 1,168,606 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 1,334,727 shares. The stock had previously closed at $0.4623.

Wall Street Analyst Weigh In

MYPS has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Wednesday, June 24th. Craig Hallum restated a “buy” rating and set a $1.00 target price on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. Benchmark reiterated a “hold” rating on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. Finally, Wall Street Zen raised shares of PLAYSTUDIOS to a “sell” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1.25.

PLAYSTUDIOS Price Performance

The firm has a market capitalization of $62.94 million, a PE ratio of -1.75 and a beta of 0.93. The business has a 50-day simple moving average of $0.49 and a 200-day simple moving average of $0.53.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $58.41 million during the quarter, compared to the consensus estimate of $52.69 million. PLAYSTUDIOS had a negative return on equity of 14.38% and a negative net margin of 15.79%. On average, research analysts expect that PLAYSTUDIOS, Inc. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On PLAYSTUDIOS

A number of large investors have recently made changes to their positions in the company. Almitas Capital LLC raised its position in PLAYSTUDIOS by 334.5% in the 4th quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock worth $2,637,000 after purchasing an additional 3,115,758 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of PLAYSTUDIOS during the second quarter valued at approximately $1,287,000. Ameriprise Financial Inc. grew its stake in shares of PLAYSTUDIOS by 35.2% during the second quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after buying an additional 870,521 shares during the last quarter. Stoic Point Capital Management LLC purchased a new stake in shares of PLAYSTUDIOS in the first quarter worth approximately $405,000. Finally, Mackenzie Financial Corp lifted its stake in shares of PLAYSTUDIOS by 46.3% during the 3rd quarter. Mackenzie Financial Corp now owns 826,631 shares of the company’s stock worth $796,000 after acquiring an additional 261,518 shares during the last quarter. 37.52% of the stock is owned by hedge funds and other institutional investors.

About PLAYSTUDIOS

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.