PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Given Average Recommendation of “Reduce” by Brokerages

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has been given an average recommendation of “Reduce” by the six ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $2.00.

Several equities research analysts have commented on the stock. Benchmark lowered their target price on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday. Wall Street Zen downgraded PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Zacks Research lowered PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th.

PLAYSTUDIOS Trading Up 1.0%

NASDAQ:MYPS opened at $0.66 on Wednesday. PLAYSTUDIOS has a 1-year low of $0.57 and a 1-year high of $2.29. The firm has a market capitalization of $82.77 million, a price-to-earnings ratio of -2.26 and a beta of 0.90. The business’s 50-day moving average price is $0.81 and its two-hundred day moving average price is $1.05.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $57.65 million during the quarter, compared to the consensus estimate of $58.77 million. PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. Sell-side analysts predict that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On PLAYSTUDIOS

Several institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp boosted its holdings in shares of PLAYSTUDIOS by 118.5% in the first quarter. Mackenzie Financial Corp now owns 575,737 shares of the company’s stock valued at $731,000 after buying an additional 312,286 shares during the period. Acadian Asset Management LLC raised its holdings in shares of PLAYSTUDIOS by 13.5% during the second quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock worth $2,127,000 after acquiring an additional 194,204 shares during the period. Ieq Capital LLC bought a new stake in PLAYSTUDIOS in the 1st quarter valued at $97,000. Strs Ohio acquired a new position in PLAYSTUDIOS in the 1st quarter worth $209,000. Finally, Nuveen LLC acquired a new position in PLAYSTUDIOS in the 1st quarter worth $277,000. Institutional investors own 37.52% of the company’s stock.

About PLAYSTUDIOS

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.