PLAYSTUDIOS’s (MYPS) Underweight Rating Reaffirmed at JPMorgan Chase & Co.

PLAYSTUDIOS (NASDAQ:MYPS)‘s stock had its “underweight” rating reissued by research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

Separately, Stifel Nicolaus dropped their price target on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.63.

PLAYSTUDIOS Stock Performance

NASDAQ:MYPS opened at $2.10 on Wednesday. The stock has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.79. The firm has a market capitalization of $261.84 million, a PE ratio of -11.05 and a beta of 0.82. PLAYSTUDIOS has a 52-week low of $1.20 and a 52-week high of $3.04.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $71.23 million for the quarter, compared to analysts’ expectations of $69.62 million. PLAYSTUDIOS had a negative return on equity of 9.15% and a negative net margin of 8.75%. During the same period in the previous year, the firm earned $0.02 EPS. Equities analysts forecast that PLAYSTUDIOS will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the transaction, the chief financial officer now directly owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of PLAYSTUDIOS in the third quarter worth about $32,000. SG Americas Securities LLC raised its stake in PLAYSTUDIOS by 82.4% during the third quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock valued at $46,000 after purchasing an additional 13,846 shares in the last quarter. Williams & Novak LLC lifted its position in PLAYSTUDIOS by 25.2% during the third quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after purchasing an additional 7,180 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of PLAYSTUDIOS in the 2nd quarter valued at about $68,000. Finally, XTX Topco Ltd bought a new stake in PLAYSTUDIOS during the second quarter worth approximately $89,000. 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.