PLAYSTUDIOS (NASDAQ:MYPS) Stock Set to Reverse Split on Thursday, October 1st

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) are scheduled to reverse split on Thursday, October 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 30th.

PLAYSTUDIOS Trading Up 6.7%

Shares of NASDAQ MYPS opened at $0.48 on Friday. The firm has a market capitalization of $57.21 million, a price-to-earnings ratio of -1.32 and a beta of 0.96. PLAYSTUDIOS has a one year low of $0.40 and a one year high of $1.01. The business has a fifty day simple moving average of $0.56 and a 200 day simple moving average of $0.53.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its earnings results on Tuesday, August 11th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $54.99 million during the quarter, compared to the consensus estimate of $57.05 million. PLAYSTUDIOS had a negative return on equity of 19.61% and a negative net margin of 20.65%.

Analyst Ratings Changes

MYPS has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings lowered PLAYSTUDIOS from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 21st. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1.25.

Hedge Funds Weigh In On PLAYSTUDIOS

A hedge fund recently bought a new position in PLAYSTUDIOS stock. Stoic Point Capital Management LLC purchased a new position in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 862,771 shares of the company’s stock, valued at approximately $405,000. Stoic Point Capital Management LLC owned 0.67% of PLAYSTUDIOS at the end of the most recent reporting period. 37.52% of the stock is currently owned by institutional investors.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc is a mobile and social gaming company that develops and operates free-to-play casual and social casino games. Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live, which are designed for play on mobile devices and other digital platforms.

The company’s games are built around its playAWARDS loyalty program, which allows players to earn points and redeem them for real-world rewards. These rewards may include hotel stays, dining, entertainment, travel and other experiences offered through participating partners.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS serves players internationally through digital distribution platforms.