PLAYSTUDIOS’s (MYPS) “Hold” Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of PLAYSTUDIOS (NASDAQ:MYPS) in a research note published on Tuesday morning, MarketBeat.com reports.

A number of other research analysts have also recently weighed in on MYPS. Zacks Research upgraded shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PLAYSTUDIOS presently has an average rating of “Hold” and a consensus price target of $1.25.

PLAYSTUDIOS Price Performance

Shares of PLAYSTUDIOS stock opened at $0.47 on Tuesday. The stock has a market capitalization of $58.96 million, a price-to-earnings ratio of -2.13 and a beta of 0.95. The business has a 50-day moving average of $0.54 and a 200 day moving average of $0.72. PLAYSTUDIOS has a 12 month low of $0.43 and a 12 month high of $1.69.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $56.23 million. PLAYSTUDIOS had a negative return on equity of 10.75% and a negative net margin of 12.18%. Equities research analysts anticipate that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On PLAYSTUDIOS

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Williams & Novak LLC grew its position in shares of PLAYSTUDIOS by 27.2% during the fourth quarter. Williams & Novak LLC now owns 104,900 shares of the company’s stock worth $68,000 after buying an additional 22,450 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in PLAYSTUDIOS by 16.5% in the second quarter. Los Angeles Capital Management LLC now owns 174,479 shares of the company’s stock valued at $229,000 after acquiring an additional 24,715 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new position in PLAYSTUDIOS in the third quarter worth approximately $30,000. Wells Fargo & Company MN lifted its stake in PLAYSTUDIOS by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock worth $65,000 after acquiring an additional 31,685 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in PLAYSTUDIOS by 4.5% during the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock worth $565,000 after acquiring an additional 36,905 shares in the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

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.