Macquarie Downgrades PLAYSTUDIOS (NASDAQ:MYPS) to Hold

PLAYSTUDIOS (NASDAQ:MYPS) was downgraded by Macquarie from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus cut their target price on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Friday, October 18th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of PLAYSTUDIOS in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.63.

PLAYSTUDIOS Price Performance

Shares of NASDAQ MYPS opened at $1.83 on Wednesday. The firm has a fifty day moving average price of $1.90 and a 200-day moving average price of $1.74. The stock has a market cap of $228.16 million, a PE ratio of -9.63, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. PLAYSTUDIOS has a 1 year low of $1.20 and a 1 year high of $3.04.

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

Insider Transactions at PLAYSTUDIOS

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of PLAYSTUDIOS by 55.9% in the 3rd quarter. Barclays PLC now owns 234,332 shares of the company’s stock worth $354,000 after buying an additional 84,058 shares during the last quarter. State Street Corp grew its position in shares of PLAYSTUDIOS by 0.7% in the 3rd quarter. State Street Corp now owns 1,733,679 shares of the company’s stock worth $2,618,000 after buying an additional 12,472 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of PLAYSTUDIOS by 932.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock worth $1,995,000 after buying an additional 1,193,071 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PLAYSTUDIOS by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock worth $3,339,000 after buying an additional 215,347 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of PLAYSTUDIOS by 152.0% in the 2nd quarter. American Century Companies Inc. now owns 272,204 shares of the company’s stock worth $563,000 after buying an additional 164,166 shares during the last quarter. Hedge funds and other institutional investors 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.