Macquarie Downgrades PLAYSTUDIOS (NASDAQ:MYPS) to Hold

PLAYSTUDIOS (NASDAQ:MYPS) was downgraded by analysts at Macquarie from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Stifel Nicolaus cut their price target on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Friday, October 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of PLAYSTUDIOS in a research report on Wednesday, December 18th. One equities research 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. According to MarketBeat, PLAYSTUDIOS presently has an average rating of “Hold” and a consensus price target of $3.63.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock opened at $1.83 on Wednesday. The company has a market cap of $228.16 million, a PE ratio of -9.63, a PEG ratio of 2.77 and a beta of 0.81. PLAYSTUDIOS has a fifty-two week low of $1.20 and a fifty-two week high of $3.04. The business’s 50-day simple moving average is $1.90 and its two-hundred day simple moving average is $1.74.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. PLAYSTUDIOS had a negative return on equity of 9.15% and a negative net margin of 8.75%. The firm had revenue of $71.23 million during the quarter, compared to analysts’ expectations of $69.62 million. During the same quarter last year, the firm earned $0.02 earnings per share. As a group, analysts predict that PLAYSTUDIOS will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the transaction, the chief financial officer now owns 558,998 shares of the company’s stock, valued at $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 14.29% of the company’s stock.

Hedge Funds Weigh In On PLAYSTUDIOS

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in PLAYSTUDIOS during the third quarter valued at $32,000. SG Americas Securities LLC boosted its position in shares of PLAYSTUDIOS by 82.4% in the third quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock valued at $46,000 after acquiring an additional 13,846 shares during the period. AQR Capital Management LLC acquired a new stake in shares of PLAYSTUDIOS during the 2nd quarter worth about $68,000. Williams & Novak LLC boosted its holdings in shares of PLAYSTUDIOS by 25.2% in the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock worth $54,000 after acquiring an additional 7,180 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in PLAYSTUDIOS in the 2nd quarter valued at $89,000. 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.