PLAYSTUDIOS (NASDAQ:MYPS) Upgraded at Zacks Research

PLAYSTUDIOS (NASDAQ:MYPS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on MYPS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday, December 29th. Benchmark cut their price objective 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. Finally, Wall Street Zen downgraded PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.00.

PLAYSTUDIOS Stock Performance

MYPS opened at $0.48 on Tuesday. The company has a fifty day moving average of $0.63 and a two-hundred day moving average of $0.82. The stock has a market capitalization of $60.46 million, a price-to-earnings ratio of -1.65 and a beta of 0.92. PLAYSTUDIOS has a fifty-two week low of $0.47 and a fifty-two week high of $1.90.

Institutional Investors Weigh In On PLAYSTUDIOS

Large investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new position in shares of PLAYSTUDIOS during the second quarter valued at approximately $1,287,000. Almitas Capital LLC purchased a new stake in shares of PLAYSTUDIOS during the third quarter worth approximately $897,000. Ameriprise Financial Inc. increased its position in shares of PLAYSTUDIOS by 35.2% during the second quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock worth $4,378,000 after purchasing an additional 870,521 shares in the last quarter. Mackenzie Financial Corp raised its stake in PLAYSTUDIOS by 46.3% in the 3rd quarter. Mackenzie Financial Corp now owns 826,631 shares of the company’s stock valued at $796,000 after purchasing an additional 261,518 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in PLAYSTUDIOS by 146.5% in the 2nd quarter. Jane Street Group LLC now owns 394,720 shares of the company’s stock valued at $517,000 after purchasing an additional 234,602 shares in the last quarter. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

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.