PLAYSTUDIOS (NASDAQ:MYPS) Stock Price Up 6.1% – Time to Buy?
by Danessa Lincoln · The Markets DailyShares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS – Get Free Report) shot up 6.1% on Monday . The stock traded as high as $0.5030 and last traded at $0.4904. 1,168,606 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 1,334,727 shares. The stock had previously closed at $0.4623.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. 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. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Wednesday, June 24th. Benchmark restated a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. Finally, Wall Street Zen upgraded shares of PLAYSTUDIOS to a “sell” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PLAYSTUDIOS currently has an average rating of “Hold” and a consensus price target of $1.25.
Get Our Latest Report on PLAYSTUDIOS
PLAYSTUDIOS Price Performance
The firm has a fifty day simple moving average of $0.49 and a 200-day simple moving average of $0.53. The firm has a market cap of $66.65 million, a P/E ratio of -1.85 and a beta of 0.93.
PLAYSTUDIOS (NASDAQ:MYPS – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.08) earnings per share (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%. On average, equities analysts predict that PLAYSTUDIOS, Inc. will post -0.24 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Williams & Novak LLC grew its holdings in PLAYSTUDIOS by 27.2% during the 4th quarter. Williams & Novak LLC now owns 104,900 shares of the company’s stock valued at $68,000 after buying an additional 22,450 shares in the last quarter. Orion Porfolio Solutions LLC bought a new stake in PLAYSTUDIOS during the 3rd quarter worth approximately $30,000. Wells Fargo & Company MN lifted its stake in PLAYSTUDIOS by 46.2% in 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 in the last quarter. Mackenzie Financial Corp boosted its holdings in PLAYSTUDIOS by 4.5% in the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock valued at $565,000 after purchasing an additional 36,905 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in PLAYSTUDIOS by 7.2% in the 4th quarter. Renaissance Technologies LLC now owns 596,170 shares of the company’s stock valued at $388,000 after purchasing an additional 40,200 shares during the period. 37.52% of the stock is currently owned by hedge funds and other institutional investors.
PLAYSTUDIOS Company Profile
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.