PLAYSTUDIOS (NASDAQ:MYPS) Stock Rating Upgraded by Zacks Research

PLAYSTUDIOS (NASDAQ:MYPS) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on MYPS. Wall Street Zen lowered PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. Finally, Benchmark cut their target price on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a report on Tuesday, November 4th. Two investment analysts have 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.00.

PLAYSTUDIOS Stock Down 5.1%

MYPS opened at $0.48 on Tuesday. The firm has a 50-day simple moving average of $0.63 and a two-hundred day simple moving average of $0.82. PLAYSTUDIOS has a 52 week low of $0.47 and a 52 week high of $1.90. The company has a market capitalization of $60.46 million, a PE ratio of -1.65 and a beta of 0.92.

Hedge Funds Weigh In On PLAYSTUDIOS

A number of institutional investors and hedge funds have recently modified their holdings of MYPS. Orion Porfolio Solutions LLC bought a new position in shares of PLAYSTUDIOS during the 3rd quarter valued at approximately $30,000. Quadrature Capital Ltd purchased a new position in PLAYSTUDIOS during the second quarter worth $49,000. Franklin Resources Inc. bought a new position in PLAYSTUDIOS during the third quarter valued at $46,000. Williams & Novak LLC increased its position in PLAYSTUDIOS by 68.7% during the third quarter. Williams & Novak LLC now owns 82,450 shares of the company’s stock valued at $79,000 after acquiring an additional 33,590 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of PLAYSTUDIOS by 211.0% in the third quarter. GSA Capital Partners LLP now owns 86,999 shares of the company’s stock valued at $84,000 after acquiring an additional 59,028 shares during the period. Hedge funds and other 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.