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

PLAYSTUDIOS (NASDAQ:MYPS) had its price target cut by stock analysts at Stifel Nicolaus from $4.00 to $3.50 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 148.23% from the stock’s previous close.

A number of other equities analysts have also recently commented on MYPS. Craig Hallum cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and decreased their target price for the stock from $4.00 to $2.00 in a research report on Tuesday, August 6th. Benchmark cut PLAYSTUDIOS from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Northland Securities lowered their price objective 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 Down 4.7 %

Shares of NASDAQ MYPS opened at $1.41 on Friday. The business has a 50-day moving average of $1.53 and a 200-day moving average of $1.99. The firm has a market capitalization of $190.07 million, a price-to-earnings ratio of -10.85 and a beta of 0.59. PLAYSTUDIOS has a 12 month low of $1.40 and a 12 month high of $3.04.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results 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. The firm had revenue of $72.59 million during the quarter, compared to analyst estimates of $73.49 million. PLAYSTUDIOS had a negative return on equity of 7.25% and a negative net margin of 6.34%. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, analysts predict that PLAYSTUDIOS will post -0.06 earnings per share for the current year.

Insider Buying and Selling at PLAYSTUDIOS

In related news, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total value of $37,500.00. Following the completion of the transaction, the chief financial officer now directly owns 583,998 shares in the company, valued at $875,997. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.29% of the company’s stock.

Hedge Funds Weigh In On PLAYSTUDIOS

Institutional investors and hedge funds have recently modified their holdings of the stock. Simplicity Wealth LLC bought a new stake in PLAYSTUDIOS in the 2nd quarter worth about $25,000. SG Americas Securities LLC raised its holdings 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 last quarter. Williams & Novak LLC boosted its holdings in PLAYSTUDIOS by 25.2% in the third quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock worth $54,000 after purchasing an additional 7,180 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in PLAYSTUDIOS during the 4th quarter valued at $55,000. Finally, AQR Capital Management LLC bought a new position in shares of PLAYSTUDIOS during the 2nd quarter valued at $68,000. 37.52% of the stock is currently owned by 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.