PLAYSTUDIOS (NASDAQ:MYPS) PT Lowered to $3.50 at Stifel Nicolaus

PLAYSTUDIOS (NASDAQ:MYPS) had its price target reduced by investment analysts at Stifel Nicolaus from $4.00 to $3.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 136.49% from the company’s previous close.

A number of other brokerages have also recently weighed in on MYPS. Benchmark cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Craig Hallum cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and reduced their price target for the company from $4.00 to $2.00 in a research report on Tuesday, August 6th. Finally, Northland Securities reduced their price target on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th.

PLAYSTUDIOS Stock Down 2.0 %

Shares of MYPS traded down $0.03 during mid-day trading on Friday, hitting $1.48. The company had a trading volume of 19,375 shares, compared to its average volume of 274,119. The business’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $2.00. PLAYSTUDIOS has a 1-year low of $1.43 and a 1-year high of $3.04. The stock has a market cap of $199.51 million, a PE ratio of -11.38 and a beta of 0.59.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $72.59 million for the quarter, compared to analysts’ expectations of $73.49 million. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. During the same period in the previous year, the company posted ($0.02) earnings per share. On average, sell-side analysts expect that PLAYSTUDIOS will post -0.06 earnings per share for the current year.

Institutional Trading of PLAYSTUDIOS

A number of hedge funds have recently made changes to their positions in the company. Williams & Novak LLC raised its stake in shares of PLAYSTUDIOS by 25.2% during the third quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after purchasing an additional 7,180 shares during the period. SG Americas Securities LLC raised its stake in shares of PLAYSTUDIOS by 82.4% during the third quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock valued at $46,000 after purchasing an additional 13,846 shares during the period. AQR Capital Management LLC purchased a new stake in shares of PLAYSTUDIOS during the second quarter valued at approximately $68,000. Rubric Capital Management LP raised its stake in shares of PLAYSTUDIOS by 14.5% during the second quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock valued at $5,612,000 after purchasing an additional 342,413 shares during the period. Finally, Sei Investments Co. raised its stake in shares of PLAYSTUDIOS by 17.2% during the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock valued at $156,000 after purchasing an additional 11,057 shares during the period. Hedge funds and other 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.