PLAYSTUDIOS (NASDAQ:MYPS) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of PLAYSTUDIOS (NASDAQ:MYPS) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $5.00 target price on the stock.

Separately, Stifel Nicolaus cut their price objective on shares of PLAYSTUDIOS from $6.00 to $4.00 and set a buy rating for the company in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $4.67.

PLAYSTUDIOS Trading Up 3.9 %

PLAYSTUDIOS stock opened at $2.42 on Tuesday. The business’s 50 day simple moving average is $2.43 and its 200 day simple moving average is $2.48. PLAYSTUDIOS has a 12 month low of $1.90 and a 12 month high of $5.01. The company has a market cap of $329.63 million, a price-to-earnings ratio of -16.13, a PEG ratio of 7.83 and a beta of 0.63.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.12). The firm had revenue of $77.11 million for the quarter, compared to the consensus estimate of $75.95 million. PLAYSTUDIOS had a negative return on equity of 7.19% and a negative net margin of 6.24%. As a group, equities research analysts forecast 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 firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $1.95, for a total value of $1,950,000.00. Following the completion of the transaction, the insider now directly owns 11,677,398 shares in the company, valued at $22,770,926.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.29% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in PLAYSTUDIOS in the 4th quarter worth about $31,000. Sherbrooke Park Advisers LLC purchased a new stake in PLAYSTUDIOS in the third quarter valued at approximately $33,000. Principal Financial Group Inc. purchased a new stake in PLAYSTUDIOS in the third quarter valued at approximately $38,000. Quadrature Capital Ltd purchased a new position in PLAYSTUDIOS in the 4th quarter worth approximately $55,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of PLAYSTUDIOS during the 4th quarter valued at $67,000. 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.