PLAYSTUDIOS (NASDAQ:MYPS) Shares Down 1.7% – What’s Next?

by · The Cerbat Gem

PLAYSTUDIOS, Inc. (NASDAQ:MYPS – Get Free Report) dropped 1.7% on Monday . The stock traded as low as $0.5404 and last traded at $0.5450. Approximately 1,392,858 shares changed hands during mid-day trading, an increase of 66% from the average daily volume of 838,266 shares. The stock had previously closed at $0.5543.

Wall Street Analyst Weigh In

MYPS has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Friday, March 27th. Benchmark reaffirmed a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Craig Hallum reaffirmed a “buy” rating and issued a $1.00 price objective on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Finally, Zacks Research raised PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PLAYSTUDIOS presently has a consensus rating of “Hold” and a consensus target price of $1.25.

View Our Latest Stock Analysis on MYPS

PLAYSTUDIOS Stock Performance

The firm has a market capitalization of $69.95 million, a PE ratio of -1.95 and a beta of 0.93. The firm has a fifty day moving average of $0.46 and a 200 day moving average of $0.55.

PLAYSTUDIOS (NASDAQ:MYPS – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $58.41 million for the quarter, compared to analysts’ expectations of $52.69 million. PLAYSTUDIOS had a negative net margin of 15.79% and a negative return on equity of 14.38%. Research analysts forecast that PLAYSTUDIOS, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PLAYSTUDIOS

Hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd raised its holdings in shares of PLAYSTUDIOS by 50.3% during the 3rd quarter. WINTON GROUP Ltd now owns 206,700 shares of the company’s stock valued at $199,000 after buying an additional 69,200 shares during the period. Almitas Capital LLC purchased a new stake in PLAYSTUDIOS during the 3rd quarter worth approximately $897,000. Williams & Novak LLC increased its holdings in PLAYSTUDIOS by 27.2% during the 4th quarter. Williams & Novak LLC now owns 104,900 shares of the company’s stock worth $68,000 after purchasing an additional 22,450 shares during the last quarter. Stoic Point Capital Management LLC purchased a new stake in PLAYSTUDIOS during the 1st quarter worth approximately $405,000. Finally, Wells Fargo & Company MN increased its holdings in PLAYSTUDIOS by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock worth $65,000 after purchasing an additional 31,685 shares during the last quarter. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

PLAYSTUDIOS Company Profile

(Get Free Report)

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.

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