PLAYSTUDIOS Shares Set to Reverse Split on Thursday, October 1st (NASDAQ:MYPS)

PLAYSTUDIOS, Inc. (NASDAQ:MYPS)’s stock is going to reverse split on the morning of Thursday, October 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 30th.

PLAYSTUDIOS Trading Up 6.7%

NASDAQ MYPS opened at $0.48 on Friday. PLAYSTUDIOS has a 12 month low of $0.40 and a 12 month high of $1.01. The stock has a 50-day simple moving average of $0.56 and a 200 day simple moving average of $0.53. The company has a market capitalization of $57.21 million, a PE ratio of -1.32 and a beta of 0.96.

PLAYSTUDIOS (NASDAQ:MYPS) last released its earnings results on Tuesday, August 11th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $54.99 million during the quarter, compared to analyst estimates of $57.05 million. PLAYSTUDIOS had a negative net margin of 20.65% and a negative return on equity of 19.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MYPS. Wall Street Zen upgraded shares of PLAYSTUDIOS from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings lowered shares of PLAYSTUDIOS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 21st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1.25.

Institutional Trading of PLAYSTUDIOS

A hedge fund recently bought a new stake in PLAYSTUDIOS stock. Marquette Asset Management LLC purchased a new stake in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 406,344 shares of the company’s stock, valued at approximately $203,000. Marquette Asset Management LLC owned 0.32% of PLAYSTUDIOS as of its most recent SEC filing. Institutional investors and hedge funds own 37.52% of the company’s stock.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc is a mobile and social gaming company that develops and operates free-to-play casual and social casino games. Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live, which are designed for play on mobile devices and other digital platforms.

The company’s games are built around its playAWARDS loyalty program, which allows players to earn points and redeem them for real-world rewards. These rewards may include hotel stays, dining, entertainment, travel and other experiences offered through participating partners.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS serves players internationally through digital distribution platforms.