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

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.80.

Several equities analysts have recently weighed in on the stock. Craig Hallum raised shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and raised their price target for the stock from $2.00 to $3.00 in a research note on Friday, May 23rd. Benchmark raised shares of PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 target price on the stock in a research note on Tuesday, May 6th.

PLAYSTUDIOS Stock Up 5.1%

Shares of NASDAQ MYPS traded up $0.06 during trading hours on Friday, hitting $1.23. 386,483 shares of the stock were exchanged, compared to its average volume of 239,236. The company has a market cap of $153.85 million, a PE ratio of -5.13 and a beta of 0.90. The firm has a fifty day moving average price of $1.39 and a 200-day moving average price of $1.47. PLAYSTUDIOS has a 12 month low of $1.14 and a 12 month high of $2.29.

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

Insider Activity

In related news, General Counsel Joel Agena sold 20,491 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $1.43, for a total value of $29,302.13. Following the sale, the general counsel directly owned 300,201 shares of the company's stock, valued at approximately $429,287.43. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $1.24, for a total transaction of $31,000.00. Following the transaction, the chief financial officer directly owned 601,421 shares in the company, valued at approximately $745,762.04. This trade represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,430 shares of company stock valued at $268,624 over the last 90 days. 14.67% of the stock is currently owned by insiders.

Institutional Trading of PLAYSTUDIOS

A number of hedge funds and other institutional investors have recently made changes to their positions in MYPS. Proficio Capital Partners LLC bought a new stake in PLAYSTUDIOS during the fourth quarter valued at $26,000. Tower Research Capital LLC TRC increased its stake in PLAYSTUDIOS by 248.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company's stock valued at $29,000 after purchasing an additional 11,237 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of PLAYSTUDIOS during the fourth quarter valued at $33,000. XTX Topco Ltd bought a new position in shares of PLAYSTUDIOS during the fourth quarter worth about $34,000. Finally, ProShare Advisors LLC grew its position in shares of PLAYSTUDIOS by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 24,793 shares of the company's stock worth $46,000 after acquiring an additional 8,159 shares during the last quarter. 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.