PLAYSTUDIOS (NASDAQ:MYPS) Downgraded to “Strong Sell” Rating by Zacks Research

by · The Markets Daily

Zacks Research downgraded shares of PLAYSTUDIOS (NASDAQ:MYPS – Free Report) from a hold rating to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

Several other research firms have also recently weighed in on MYPS. Weiss Ratings reissued a “sell (d-)” rating on shares of PLAYSTUDIOS in a research note on Wednesday. Benchmark decreased their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $2.00.

Read Our Latest Report on PLAYSTUDIOS

PLAYSTUDIOS Trading Up 5.6%

NASDAQ MYPS traded up $0.04 on Thursday, reaching $0.80. 248,222 shares of the company were exchanged, compared to its average volume of 229,937. The business’s fifty day moving average price is $0.95 and its 200 day moving average price is $1.16. The stock has a market capitalization of $100.26 million, a P/E ratio of -2.76 and a beta of 0.87. PLAYSTUDIOS has a fifty-two week low of $0.74 and a fifty-two week high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS – Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). PLAYSTUDIOS had a negative return on equity of 8.66% and a negative net margin of 15.10%.The company had revenue of $57.65 million for the quarter, compared to analysts’ expectations of $58.77 million. PLAYSTUDIOS has set its FY 2025 guidance at EPS. Equities research analysts forecast that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its holdings in PLAYSTUDIOS by 118.5% during the 1st quarter. Mackenzie Financial Corp now owns 575,737 shares of the company’s stock worth $731,000 after buying an additional 312,286 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of PLAYSTUDIOS in the first quarter valued at $97,000. Strs Ohio purchased a new position in PLAYSTUDIOS in the first quarter valued at $209,000. Nuveen LLC acquired a new position in PLAYSTUDIOS during the 1st quarter worth $277,000. Finally, Acadian Asset Management LLC increased its holdings in PLAYSTUDIOS by 5.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,433,255 shares of the company’s stock worth $1,816,000 after purchasing an additional 72,511 shares during the period. Institutional investors and hedge funds own 37.52% of the company’s stock.

About PLAYSTUDIOS

(Get Free Report)

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.

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