PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Receives $2.80 Consensus Target Price from Brokerages

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $2.80.

MYPS has been the topic of several recent research reports. Macquarie cut their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Benchmark raised PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 target price on the stock in a research report on Tuesday, May 6th. Finally, Craig Hallum upgraded PLAYSTUDIOS from a "hold" rating to a "buy" rating and raised their target price for the company from $2.00 to $3.00 in a research note on Friday, May 23rd.

PLAYSTUDIOS Stock Performance

Shares of PLAYSTUDIOS stock remained flat at $1.35 during trading hours on Thursday. 517,356 shares of the stock were exchanged, compared to its average volume of 220,659. PLAYSTUDIOS has a one year low of $1.14 and a one year high of $2.46. The business's 50 day moving average price is $1.35 and its 200 day moving average price is $1.62. The stock has a market capitalization of $168.86 million, a PE ratio of -7.11, a P/E/G ratio of 17.60 and a beta of 0.89.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.02). PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The firm had revenue of $62.71 million for the quarter, compared to analysts' expectations of $64.45 million. Analysts expect that PLAYSTUDIOS will post -0.17 EPS for the current year.

Insider Activity

In related news, CFO Scott Edward Peterson sold 29,601 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total value of $37,297.26. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.29% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MYPS. Strs Ohio acquired a new position in shares of PLAYSTUDIOS during the first quarter valued at $209,000. Acadian Asset Management LLC grew its position in PLAYSTUDIOS by 5.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,433,255 shares of the company's stock valued at $1,816,000 after buying an additional 72,511 shares in the last quarter. Jane Street Group LLC acquired a new position in PLAYSTUDIOS during the 1st quarter valued at about $203,000. NewEdge Advisors LLC increased its stake in PLAYSTUDIOS by 5,260.6% during the 1st quarter. NewEdge Advisors LLC now owns 134,015 shares of the company's stock valued at $170,000 after buying an additional 131,515 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of PLAYSTUDIOS during the 1st quarter worth about $97,000. Institutional investors and hedge funds 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.