PLAYSTUDIOS (NASDAQ:MYPS) Trading Down 1.7% – Here’s What Happened

Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) traded down 1.7% on Monday . The company traded as low as $0.5404 and last traded at $0.5450. 1,392,858 shares traded hands during mid-day trading, an increase of 66% from the average session volume of 838,266 shares. The stock had previously closed at $0.5543.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research upgraded PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Friday, March 27th. Benchmark reaffirmed a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $1.00 price objective on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PLAYSTUDIOS currently has an average rating of “Hold” and a consensus price target of $1.25.

PLAYSTUDIOS Trading Down 1.7%

The business has a 50 day simple moving average of $0.46 and a 200-day simple moving average of $0.55. The stock has a market capitalization of $69.95 million, a price-to-earnings ratio of -1.95 and a beta of 0.93.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). PLAYSTUDIOS had a negative return on equity of 14.38% and a negative net margin of 15.79%.The business had revenue of $58.41 million during the quarter, compared to analyst estimates of $52.69 million. Research analysts predict that PLAYSTUDIOS, Inc. will post -0.24 EPS for the current year.

Institutional Trading of PLAYSTUDIOS

Hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC acquired a new stake in PLAYSTUDIOS in the 3rd quarter worth about $30,000. Franklin Resources Inc. acquired a new stake in PLAYSTUDIOS in the 3rd quarter worth about $46,000. Verdad Advisers LP acquired a new position in shares of PLAYSTUDIOS in the 4th quarter valued at about $48,000. GSA Capital Partners LLP lifted its stake in shares of PLAYSTUDIOS by 211.0% in the 3rd quarter. GSA Capital Partners LLP now owns 86,999 shares of the company’s stock valued at $84,000 after purchasing an additional 59,028 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of PLAYSTUDIOS in the 4th quarter valued at about $61,000. 37.52% of the stock is owned by institutional investors and hedge funds.

About PLAYSTUDIOS

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.