PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Receives $2.00 Consensus PT from Brokerages

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has earned a consensus rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $2.00.

MYPS has been the subject of several recent research reports. Benchmark lowered their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th. Zacks Research raised PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Wall Street Zen cut PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th.

PLAYSTUDIOS Trading Up 1.5%

MYPS stock opened at $0.49 on Monday. PLAYSTUDIOS has a 12-month low of $0.43 and a 12-month high of $1.89. The firm has a market cap of $62.30 million, a P/E ratio of -1.70 and a beta of 0.92. The stock’s 50 day simple moving average is $0.61 and its 200 day simple moving average is $0.79.

Institutional Trading of PLAYSTUDIOS

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of PLAYSTUDIOS by 5,260.6% in the first quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock valued at $170,000 after acquiring an additional 131,515 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of PLAYSTUDIOS during the 1st quarter valued at $203,000. Los Angeles Capital Management LLC boosted its stake in PLAYSTUDIOS by 16.5% during the second quarter. Los Angeles Capital Management LLC now owns 174,479 shares of the company’s stock valued at $229,000 after buying an additional 24,715 shares in the last quarter. Acadian Asset Management LLC raised its position in PLAYSTUDIOS by 13.5% in the second quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock worth $2,127,000 after acquiring an additional 194,204 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in PLAYSTUDIOS by 75.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 420,165 shares of the company’s stock valued at $550,000 after acquiring an additional 181,210 shares during the last quarter. 37.52% of the stock is owned by institutional investors and hedge funds.

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.