PLAYSTUDIOS (NASDAQ:MYPS) Stock Rating Upgraded by Benchmark

Benchmark upgraded shares of PLAYSTUDIOS (NASDAQ:MYPS - Free Report) from a hold rating to a speculative buy rating in a research report report published on Tuesday, Marketbeat Ratings reports. The firm currently has $2.00 target price on the stock.

Separately, Macquarie cut their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating for the company in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, PLAYSTUDIOS currently has a consensus rating of "Hold" and an average price target of $2.60.

PLAYSTUDIOS Stock Up 6.9 %

Shares of MYPS stock traded up $0.10 during trading hours on Tuesday, reaching $1.54. 386,791 shares of the company's stock were exchanged, compared to its average volume of 217,396. PLAYSTUDIOS has a fifty-two week low of $1.14 and a fifty-two week high of $2.55. The stock has a market capitalization of $205.54 million, a P/E ratio of -8.11, a P/E/G ratio of 17.60 and a beta of 0.89. The business has a fifty day moving average price of $1.31 and a 200-day moving average price of $1.62.

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

Insider Buying and Selling

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 29,601 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total transaction of $37,297.26. Following the completion of the transaction, the chief financial officer now directly owns 504,397 shares in the company, valued at $635,540.22. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 14.29% of the company's stock.

Institutional Investors Weigh In On PLAYSTUDIOS

Hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in PLAYSTUDIOS during the fourth quarter worth about $26,000. Tower Research Capital LLC TRC increased its holdings in PLAYSTUDIOS by 248.4% during the 4th 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 in the last quarter. Virtu Financial LLC acquired a new stake in PLAYSTUDIOS during the 3rd quarter valued at $32,000. O Shaughnessy Asset Management LLC bought a new position in PLAYSTUDIOS in the 4th quarter valued at $33,000. Finally, XTX Topco Ltd acquired a new position in PLAYSTUDIOS in the fourth quarter worth $34,000. Institutional investors and hedge funds own 37.52% of the company's stock.

PLAYSTUDIOS Company Profile

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.