PLAYSTUDIOS (NASDAQ:MYPS) Stock Set to Reverse Split on Thursday, October 1st

Key Points

• PLAYSTUDIOS will execute a 1-for-10 reverse stock split on Thursday, October 1, with shareholder holdings adjusted after the market closes on Wednesday, September 30.
• The stock opened at $0.48 and has risen 6.7%, but the company reported a quarterly loss of $0.10 per share, missing estimates by $0.06, while revenue also fell short of expectations.
• Analyst sentiment remains mixed, with one Buy, two Hold and one Sell rating; the consensus rating is Hold with a $1.25 price target. Institutional investors own 37.52% of the company.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) shares are going to reverse split on the morning of Thursday, October 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 30th.

PLAYSTUDIOS Stock Up 6.7%

PLAYSTUDIOS stock opened at $0.48 on Friday. The stock has a market cap of $57.21 million, a P/E ratio of -1.32 and a beta of 0.96. PLAYSTUDIOS has a twelve month low of $0.40 and a twelve month high of $1.01. The company's 50-day moving average price is $0.56 and its two-hundred day moving average price is $0.53.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $54.99 million for the quarter, compared to analyst estimates of $57.05 million. PLAYSTUDIOS had a negative return on equity of 19.61% and a negative net margin of 20.65%.

Analyst Upgrades and Downgrades

MYPS has been the subject of a number of recent analyst reports. Weiss Ratings downgraded PLAYSTUDIOS from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 21st. Wall Street Zen upgraded shares of PLAYSTUDIOS from a "sell" rating to a "hold" rating in a research report on Saturday, July 4th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PLAYSTUDIOS presently has an average rating of "Hold" and a consensus price target of $1.25.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in PLAYSTUDIOS stock. Stoic Point Capital Management LLC purchased a new stake in PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 862,771 shares of the company's stock, valued at approximately $405,000. Stoic Point Capital Management LLC owned approximately 0.67% of PLAYSTUDIOS at the end of the most recent quarter. Institutional investors own 37.52% of the company's stock.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc is a mobile and social gaming company that develops and operates free-to-play casual and social casino games. Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live, which are designed for play on mobile devices and other digital platforms.

The company's games are built around its playAWARDS loyalty program, which allows players to earn points and redeem them for real-world rewards. These rewards may include hotel stays, dining, entertainment, travel and other experiences offered through participating partners.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS serves players internationally through digital distribution platforms.

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