PLAYSTUDIOS (NASDAQ:MYPS) Shares Down 2.9%

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) dropped 2.9% during mid-day trading on Tuesday . The company traded as low as $2.03 and last traded at $2.03. Approximately 107,257 shares were traded during trading, a decline of 63% from the average daily volume of 290,352 shares. The stock had previously closed at $2.09.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and issued a $5.00 price target on shares of PLAYSTUDIOS in a research note on Tuesday, May 7th.

PLAYSTUDIOS Stock Performance

The stock’s fifty day simple moving average is $2.26 and its 200-day simple moving average is $2.38. The stock has a market cap of $279.04 million, a P/E ratio of -15.92, a P/E/G ratio of 3.87 and a beta of 0.65.

Institutional Investors Weigh In On PLAYSTUDIOS

Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of PLAYSTUDIOS by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock valued at $70,000 after acquiring an additional 4,546 shares during the period. Clearbridge Investments LLC lifted its position in PLAYSTUDIOS by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,734,979 shares of the company’s stock worth $4,823,000 after purchasing an additional 8,506 shares during the period. SG Americas Securities LLC grew its stake in PLAYSTUDIOS by 26.4% during the fourth quarter. SG Americas Securities LLC now owns 49,670 shares of the company’s stock worth $135,000 after buying an additional 10,380 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in PLAYSTUDIOS in the 3rd quarter valued at about $33,000. Finally, Victory Capital Management Inc. acquired a new position in shares of PLAYSTUDIOS in the 4th quarter valued at approximately $31,000. 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.