PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Given Average Recommendation of "Moderate Buy" by Brokerages

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $2.80.

Several equities analysts have issued reports on the company. Craig Hallum raised PLAYSTUDIOS from a "hold" rating to a "buy" rating and boosted their price target for the company from $2.00 to $3.00 in a research note on Friday, May 23rd. Benchmark upgraded shares of PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 price objective for the company in a research note on Tuesday, May 6th. Finally, Macquarie dropped their target price on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th.

Insider Activity

In other news, CFO Scott Edward Peterson sold 29,601 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total value of $37,297.26. Following the completion of the sale, the chief financial officer now directly owns 504,397 shares in the company, valued at $635,540.22. This trade represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Joel Agena sold 20,491 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $1.43, for a total value of $29,302.13. Following the completion of the sale, the general counsel now owns 300,201 shares of the company's stock, valued at approximately $429,287.43. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,582 shares of company stock worth $95,490 in the last three months. Company insiders own 14.67% of the company's stock.

Hedge Funds Weigh In On PLAYSTUDIOS

Several large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in PLAYSTUDIOS by 0.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company's stock valued at $1,328,000 after acquiring an additional 6,281 shares in the last quarter. ProShare Advisors LLC lifted its position in PLAYSTUDIOS by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 24,793 shares of the company's stock valued at $46,000 after acquiring an additional 8,159 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in PLAYSTUDIOS by 34.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company's stock valued at $74,000 after acquiring an additional 10,130 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in PLAYSTUDIOS by 248.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company's stock valued at $29,000 after acquiring an additional 11,237 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in PLAYSTUDIOS by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 51,671 shares of the company's stock valued at $96,000 after acquiring an additional 11,254 shares in the last quarter. Institutional investors own 37.52% of the company's stock.

PLAYSTUDIOS Stock Down 2.1%

Shares of NASDAQ:MYPS opened at $1.40 on Monday. The firm has a market cap of $175.11 million, a P/E ratio of -5.83 and a beta of 0.91. PLAYSTUDIOS has a 12-month low of $1.14 and a 12-month high of $2.29. The business has a fifty day simple moving average of $1.40 and a 200 day simple moving average of $1.58.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). PLAYSTUDIOS had a negative return on equity of 5.83% and a negative net margin of 11.30%. The business had revenue of $62.71 million during the quarter, compared to analyst estimates of $64.45 million. As a group, equities research analysts expect that PLAYSTUDIOS will post -0.17 EPS for the current year.

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.

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