PLAYSTUDIOS (NASDAQ:MYPS) Shares Up 5.2% – Here’s What Happened
by Amy Steele · The Cerbat GemPLAYSTUDIOS, Inc. (NASDAQ:MYPS – Get Free Report)’s share price rose 5.2% during mid-day trading on Wednesday . The company traded as high as $0.6842 and last traded at $0.6780. Approximately 127,964 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 211,334 shares. The stock had previously closed at $0.6447.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday. Benchmark lowered their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a research report on Tuesday, November 4th. Wall Street Zen lowered PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Zacks Research downgraded PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.00.
Check Out Our Latest Stock Report on PLAYSTUDIOS
PLAYSTUDIOS Price Performance
The stock’s 50 day moving average is $0.75 and its 200-day moving average is $0.99. The company has a market capitalization of $85.50 million, a P/E ratio of -2.34 and a beta of 0.90.
PLAYSTUDIOS (NASDAQ:MYPS – Get Free Report) last posted its earnings results on Monday, November 3rd. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%.The firm had revenue of $57.65 million for the quarter, compared to analysts’ expectations of $58.77 million. On average, equities research analysts anticipate that PLAYSTUDIOS, Inc. will post -0.17 EPS for the current year.
Hedge Funds Weigh In On PLAYSTUDIOS
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC purchased a new stake in shares of PLAYSTUDIOS in the 3rd quarter worth about $30,000. Quadrature Capital Ltd bought a new position in shares of PLAYSTUDIOS in the 2nd quarter worth about $49,000. Franklin Resources Inc. purchased a new position in PLAYSTUDIOS during the 3rd quarter valued at about $46,000. Ieq Capital LLC bought a new stake in PLAYSTUDIOS during the first quarter worth about $97,000. Finally, Williams & Novak LLC grew its holdings in PLAYSTUDIOS by 68.7% in the third quarter. Williams & Novak LLC now owns 82,450 shares of the company’s stock worth $79,000 after purchasing an additional 33,590 shares during the period. Hedge funds and other institutional investors own 37.52% of the company’s stock.
About PLAYSTUDIOS
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.