PLAYSTUDIOS (NASDAQ:MYPS) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of PLAYSTUDIOS (NASDAQ:MYPS) in a report issued on Tuesday, Benzinga reports. The firm currently has a $5.00 price objective on the stock.

Separately, Stifel Nicolaus reduced their target price on PLAYSTUDIOS from $6.00 to $4.00 and set a buy rating for the company in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $4.67.

PLAYSTUDIOS Trading Up 3.9 %

Shares of NASDAQ:MYPS opened at $2.42 on Tuesday. PLAYSTUDIOS has a twelve month low of $1.90 and a twelve month high of $5.01. The company’s 50 day moving average is $2.43 and its 200 day moving average is $2.48. The company has a market cap of $329.63 million, a PE ratio of -16.13, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The firm had revenue of $77.11 million for the quarter, compared to analyst estimates of $75.95 million. PLAYSTUDIOS had a negative return on equity of 7.19% and a negative net margin of 6.24%. Equities research analysts predict that PLAYSTUDIOS will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Corp Microsoft sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $1.95, for a total value of $1,950,000.00. Following the transaction, the insider now directly owns 11,677,398 shares of the company’s stock, valued at $22,770,926.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in PLAYSTUDIOS during the fourth quarter worth about $31,000. Sherbrooke Park Advisers LLC acquired a new position in PLAYSTUDIOS in the third quarter valued at approximately $33,000. Principal Financial Group Inc. purchased a new position in PLAYSTUDIOS in the third quarter worth approximately $38,000. Quadrature Capital Ltd acquired a new stake in PLAYSTUDIOS during the fourth quarter worth $55,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in PLAYSTUDIOS in the fourth quarter valued at $67,000. Hedge funds and other institutional investors own 37.52% of the company’s stock.

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.