PLAYSTUDIOS (NASDAQ:MYPS) Receives Buy Rating from Benchmark

PLAYSTUDIOS (NASDAQ:MYPS)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a report released on Tuesday, Benzinga reports. They currently have a $5.00 target price on the stock. Benchmark’s price target suggests a potential upside of 110.08% from the stock’s previous close.

Separately, Stifel Nicolaus reduced their target price on PLAYSTUDIOS from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, PLAYSTUDIOS currently has an average rating of “Hold” and an average target price of $4.67.

PLAYSTUDIOS Trading Up 2.1 %

Shares of MYPS stock traded up $0.05 on Tuesday, hitting $2.38. 81,357 shares of the stock were exchanged, compared to its average volume of 328,550. PLAYSTUDIOS has a fifty-two week low of $1.90 and a fifty-two week high of $5.01. The firm has a market capitalization of $324.18 million, a P/E ratio of -16.00, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63. The business has a 50-day moving average of $2.43 and a 200 day moving average of $2.48.

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

Insider Buying and Selling at PLAYSTUDIOS

In related news, major shareholder Corp Microsoft sold 1,000,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $1.95, for a total transaction of $1,950,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 14.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP grew its stake in PLAYSTUDIOS by 29.0% in the 1st quarter. GSA Capital Partners LLP now owns 300,456 shares of the company’s stock valued at $835,000 after buying an additional 67,602 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of PLAYSTUDIOS in the fourth quarter valued at $55,000. Public Employees Retirement System of Ohio purchased a new stake in PLAYSTUDIOS during the 4th quarter worth about $67,000. Jump Financial LLC purchased a new stake in PLAYSTUDIOS during the 4th quarter worth about $91,000. Finally, Victory Capital Management Inc. bought a new position in PLAYSTUDIOS in the 4th quarter worth about $31,000. 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.