Stifel Nicolaus Lowers PLAYSTUDIOS (NASDAQ:MYPS) Price Target to $3.50

PLAYSTUDIOS (NASDAQ:MYPS) had its price target lowered by Stifel Nicolaus from $4.00 to $3.50 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

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

PLAYSTUDIOS Trading Up 1.4 %

PLAYSTUDIOS stock opened at $1.43 on Friday. The stock has a market cap of $192.77 million, a P/E ratio of -11.00 and a beta of 0.59. The company has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $1.97. PLAYSTUDIOS has a 12-month low of $1.40 and a 12-month high of $3.04.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. PLAYSTUDIOS had a negative return on equity of 7.25% and a negative net margin of 6.34%. The business had revenue of $72.59 million during the quarter, compared to analysts’ expectations of $73.49 million. During the same period in the prior year, the firm posted ($0.02) EPS. As a group, sell-side analysts forecast that PLAYSTUDIOS will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $1.50, for a total value of $37,500.00. Following the transaction, the chief financial officer now directly owns 583,998 shares in the company, valued at approximately $875,997. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rubric Capital Management LP boosted its holdings in PLAYSTUDIOS by 14.5% in the 2nd 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 in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of PLAYSTUDIOS by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,734,979 shares of the company’s stock valued at $4,823,000 after buying an additional 8,506 shares during the period. Acadian Asset Management LLC boosted its stake in shares of 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in PLAYSTUDIOS by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 494,667 shares of the company’s stock worth $1,024,000 after acquiring an additional 27,784 shares during the period. Finally, Renaissance Technologies LLC raised its position in PLAYSTUDIOS by 21.5% in the second quarter. Renaissance Technologies LLC now owns 360,000 shares of the company’s stock worth $745,000 after acquiring an additional 63,800 shares in the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

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.