PLAYSTUDIOS’s (MYPS) Underweight Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of PLAYSTUDIOS (NASDAQ:MYPS) in a research report released on Wednesday morning, MarketBeat.com reports.

Separately, Stifel Nicolaus lowered their price target on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.63.

PLAYSTUDIOS Trading Down 2.0 %

Shares of MYPS stock traded down $0.04 during trading hours on Wednesday, hitting $1.94. The company’s stock had a trading volume of 19,548 shares, compared to its average volume of 269,010. PLAYSTUDIOS has a 12-month low of $1.20 and a 12-month high of $3.04. The stock has a market cap of $241.89 million, a PE ratio of -10.21 and a beta of 0.82. The company has a 50 day moving average of $1.71 and a 200 day moving average of $1.79.

PLAYSTUDIOS (NASDAQ:MYPS) last released its earnings results on Monday, November 4th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The business had revenue of $71.23 million during the quarter, compared to analysts’ expectations of $69.62 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. As a group, analysts anticipate that PLAYSTUDIOS will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at PLAYSTUDIOS

In related news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total transaction of $37,500.00. Following the sale, the chief financial officer now owns 583,998 shares in the company, valued at approximately $875,997. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.29% of the company’s stock.

Institutional Trading of PLAYSTUDIOS

A number of institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP raised its holdings in PLAYSTUDIOS by 14.5% in the second quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock valued at $5,612,000 after acquiring an additional 342,413 shares in the last quarter. Geode Capital Management LLC grew its stake in PLAYSTUDIOS by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock worth $3,339,000 after buying an additional 215,347 shares during the last quarter. State Street Corp increased its position in PLAYSTUDIOS by 0.7% in the third quarter. State Street Corp now owns 1,733,679 shares of the company’s stock worth $2,618,000 after buying an additional 12,472 shares during the period. Acadian Asset Management LLC lifted its stake in PLAYSTUDIOS by 6.0% in the second quarter. Acadian Asset Management LLC now owns 1,408,991 shares of the company’s stock valued at $2,914,000 after buying an additional 79,909 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of PLAYSTUDIOS by 5.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,626 shares of the company’s stock valued at $1,069,000 after acquiring an additional 35,391 shares during the period. 37.52% of the stock is owned by hedge funds and other institutional investors.

About PLAYSTUDIOS

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.