PLAYSTUDIOS (NASDAQ:MYPS) Raised to “Hold” at Wall Street Zen

PLAYSTUDIOS (NASDAQ:MYPS) was upgraded by analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PLAYSTUDIOS currently has a consensus rating of “Hold” and a consensus target price of $12.50.

PLAYSTUDIOS Stock Down 5.3%

Shares of MYPS opened at $3.96 on Friday. The company has a market capitalization of $47.56 million, a P/E ratio of -1.10 and a beta of 0.96. The firm has a 50 day moving average of $4.88 and a 200 day moving average of $5.25. PLAYSTUDIOS has a twelve month low of $3.83 and a twelve month high of $9.90.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Tuesday, August 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.27. The company had revenue of $54.99 million during the quarter, compared to analyst estimates of $57.05 million. PLAYSTUDIOS had a negative net margin of 20.65% and a negative return on equity of 19.61%.

Hedge Funds Weigh In On PLAYSTUDIOS

An institutional investor recently bought a new position in PLAYSTUDIOS stock. Stoic Point Capital Management LLC bought a new stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 862,771 shares of the company’s stock, valued at approximately $405,000. Stoic Point Capital Management LLC owned about 0.67% of PLAYSTUDIOS as of its most recent SEC filing. 37.52% of the stock is owned by institutional investors.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play social casino and casual mobile games. Its portfolio includes myVEGAS Slots, myKONAMI Slots, POP! Slots and other titles that allow players to use virtual currency and participate in casino-themed entertainment without wagering real money.

The company’s games are connected to its playAWARDS loyalty platform, which allows players to earn points through gameplay and redeem them for real-world rewards. These rewards have included hotel stays, dining, entertainment and other experiences offered through participating hospitality, travel and leisure partners.

PLAYSTUDIOS was founded in 2011 and is headquartered in Las Vegas, Nevada.