PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Given Average Recommendation of “Hold” by Analysts

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has received a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $2.00.

Several research analysts have commented on MYPS shares. 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 reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th. Wall Street Zen downgraded shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Benchmark reduced their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research report on Tuesday, November 4th.

Hedge Funds Weigh In On PLAYSTUDIOS

A number of large investors have recently bought and sold shares of the business. Almitas Capital LLC increased its holdings in PLAYSTUDIOS by 334.5% during the fourth quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock valued at $2,637,000 after buying an additional 3,115,758 shares during the period. Ameriprise Financial Inc. boosted its position in PLAYSTUDIOS by 35.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after acquiring an additional 870,521 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of PLAYSTUDIOS by 13.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock valued at $2,127,000 after acquiring an additional 194,204 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of PLAYSTUDIOS in the 2nd quarter worth $1,287,000. Finally, Mackenzie Financial Corp lifted its stake in shares of PLAYSTUDIOS by 4.5% during the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock worth $565,000 after purchasing an additional 36,905 shares during the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Price Performance

NASDAQ:MYPS opened at $0.48 on Monday. The firm has a market capitalization of $60.05 million, a price-to-earnings ratio of -1.64 and a beta of 0.92. The business has a 50 day simple moving average of $0.60 and a 200-day simple moving average of $0.79. PLAYSTUDIOS has a 1 year low of $0.43 and a 1 year high of $1.81.

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.