PLAYSTUDIOS (NASDAQ:MYPS) Downgraded to Hold Rating by Benchmark

PLAYSTUDIOS (NASDAQ:MYPS) was downgraded by stock analysts at Benchmark from a “speculative buy” rating to a “hold” rating in a report released on Tuesday.

Several other analysts have also recently commented on the stock. Zacks Research raised shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PLAYSTUDIOS has an average rating of “Hold” and a consensus target price of $2.25.

PLAYSTUDIOS Stock Down 2.0%

Shares of NASDAQ:MYPS opened at $0.50 on Tuesday. The firm has a market cap of $63.05 million, a P/E ratio of -1.72 and a beta of 0.95. PLAYSTUDIOS has a 12 month low of $0.43 and a 12 month high of $1.69. The company’s 50-day moving average price is $0.55 and its two-hundred day moving average price is $0.73.

Institutional Trading of PLAYSTUDIOS

Institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in shares of 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. Verdad Advisers LP acquired a new stake in shares of PLAYSTUDIOS during the fourth quarter worth $48,000. Almitas Capital LLC increased its holdings in PLAYSTUDIOS by 334.5% in the fourth quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock valued at $2,637,000 after purchasing an additional 3,115,758 shares during the last quarter. Wells Fargo & Company MN increased its holdings in PLAYSTUDIOS by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after purchasing an additional 31,685 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in PLAYSTUDIOS by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 596,170 shares of the company’s stock valued at $388,000 after buying an additional 40,200 shares during the period. Institutional investors own 37.52% of the company’s stock.

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.