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

JPMorgan Chase & Co. restated their underweight rating on shares of PLAYSTUDIOS (NASDAQ:MYPS) in a research report sent to investors on Wednesday, Marketbeat.com reports.

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

PLAYSTUDIOS Trading Down 2.0 %

NASDAQ:MYPS traded down $0.04 during mid-day trading on Wednesday, reaching $1.94. 19,548 shares of the stock were exchanged, compared to its average volume of 269,010. PLAYSTUDIOS has a 1-year low of $1.20 and a 1-year high of $3.04. The business has a fifty day moving average price of $1.71 and a 200 day moving average price of $1.79. The firm has a market capitalization of $241.89 million, a PE ratio of -10.21 and a beta of 0.82.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $71.23 million during the quarter, compared to analyst estimates of $69.62 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, sell-side analysts forecast that PLAYSTUDIOS will post -0.16 earnings per share for the current year.

Insider Buying and Selling at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the transaction, the chief financial officer now owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Williams & Novak LLC raised its stake in PLAYSTUDIOS by 25.2% in the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after acquiring an additional 7,180 shares during the period. Sei Investments Co. raised its holdings in PLAYSTUDIOS by 17.2% during the 2nd quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock valued at $156,000 after acquiring an additional 11,057 shares during the period. State Street Corp lifted its position in shares of PLAYSTUDIOS by 0.7% during the third quarter. State Street Corp now owns 1,733,679 shares of the company’s stock worth $2,618,000 after acquiring an additional 12,472 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of PLAYSTUDIOS by 82.4% in the third quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock worth $46,000 after acquiring an additional 13,846 shares during the period. Finally, Virtu Financial LLC bought a new stake in PLAYSTUDIOS during the 3rd quarter worth approximately $32,000. Institutional investors own 37.52% of the company’s stock.

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.