PLAYSTUDIOS (NASDAQ:MYPS) Rating Reiterated by Benchmark

PLAYSTUDIOS (NASDAQ:MYPS)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research note issued on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 110.08% from the company’s previous close.

Separately, Stifel Nicolaus cut their target price on PLAYSTUDIOS from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.67.

PLAYSTUDIOS Stock Performance

Shares of MYPS stock traded up $0.05 during mid-day trading on Tuesday, reaching $2.38. 81,357 shares of the company’s stock traded hands, compared to its average volume of 328,550. The firm has a market capitalization of $324.18 million, a PE ratio of -16.00, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63. The firm has a 50 day moving average price of $2.43 and a two-hundred day moving average price of $2.48. PLAYSTUDIOS has a 12 month low of $1.90 and a 12 month high of $5.01.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its earnings results on Monday, March 11th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). PLAYSTUDIOS had a negative return on equity of 7.19% and a negative net margin of 6.24%. The business had revenue of $77.11 million during the quarter, compared to the consensus estimate of $75.95 million. As a group, equities analysts expect that PLAYSTUDIOS will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Corp Microsoft sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $1.95, for a total value of $1,950,000.00. Following the sale, the insider now owns 11,677,398 shares in the company, valued at $22,770,926.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.29% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its stake in PLAYSTUDIOS by 90.5% during the 3rd quarter. Acadian Asset Management LLC now owns 697,518 shares of the company’s stock valued at $2,216,000 after acquiring an additional 331,374 shares in the last quarter. SG Capital Management LLC grew its position in shares of PLAYSTUDIOS by 71.4% in the third quarter. SG Capital Management LLC now owns 585,478 shares of the company’s stock valued at $1,862,000 after purchasing an additional 243,826 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of PLAYSTUDIOS by 29.0% in the first quarter. GSA Capital Partners LLP now owns 300,456 shares of the company’s stock valued at $835,000 after purchasing an additional 67,602 shares during the last quarter. SG Americas Securities LLC purchased a new position in PLAYSTUDIOS during the third quarter worth approximately $125,000. Finally, Jump Financial LLC acquired a new position in PLAYSTUDIOS during the fourth quarter worth $91,000. Hedge funds and other 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.