JPMorgan Chase & Co. Reiterates Underweight Rating for PLAYSTUDIOS (NASDAQ:MYPS)

PLAYSTUDIOS (NASDAQ:MYPS)‘s stock had its “underweight” rating reiterated by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

Separately, Stifel Nicolaus lowered their target price on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.63.

PLAYSTUDIOS Stock Down 1.5 %

NASDAQ:MYPS opened at $1.95 on Wednesday. The company has a market cap of $243.13 million, a P/E ratio of -10.26 and a beta of 0.82. PLAYSTUDIOS has a twelve month low of $1.20 and a twelve month high of $3.04. The business has a 50 day moving average price of $1.72 and a two-hundred day moving average price of $1.79.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, November 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The business had revenue of $71.23 million during the quarter, compared to analysts’ expectations of $69.62 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. As a group, analysts anticipate that PLAYSTUDIOS will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1.74, for a total transaction of $43,500.00. Following the transaction, the chief financial officer now owns 558,998 shares of the company’s stock, valued at $972,656.52. The trade was a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Williams & Novak LLC raised its stake in PLAYSTUDIOS by 25.2% in the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after acquiring an additional 7,180 shares during the period. Sei Investments Co. increased its holdings in shares of PLAYSTUDIOS by 17.2% in the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock valued at $156,000 after purchasing an additional 11,057 shares during the last quarter. State Street Corp raised its position in shares of PLAYSTUDIOS by 0.7% in the third quarter. State Street Corp now owns 1,733,679 shares of the company’s stock valued at $2,618,000 after purchasing an additional 12,472 shares during the period. SG Americas Securities LLC lifted its stake in shares of PLAYSTUDIOS by 82.4% during the 3rd quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock worth $46,000 after buying an additional 13,846 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of PLAYSTUDIOS during the 3rd quarter worth about $32,000. 37.52% of the stock is currently owned by institutional investors.

PLAYSTUDIOS Company Profile

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.