PLAYSTUDIOS (NASDAQ:MYPS) Stock Rating Lowered by Craig Hallum

PLAYSTUDIOS (NASDAQ:MYPS) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $2.00 price target on the stock, down from their previous price target of $4.00. Craig Hallum’s price target points to a potential upside of 30.72% from the stock’s previous close.

Separately, Benchmark lowered shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, PLAYSTUDIOS presently has a consensus rating of “Hold” and an average price target of $3.75.

PLAYSTUDIOS Price Performance

Shares of MYPS opened at $1.53 on Tuesday. PLAYSTUDIOS has a 1 year low of $1.52 and a 1 year high of $4.01. The company has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $2.28. The firm has a market cap of $206.25 million, a P/E ratio of -11.77, a price-to-earnings-growth ratio of 7.07 and a beta of 0.63.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. PLAYSTUDIOS had a negative net margin of 5.64% and a negative return on equity of 6.73%. The business had revenue of $72.59 million during the quarter, compared to analyst estimates of $73.49 million. During the same period last year, the firm posted ($0.02) EPS. On average, sell-side analysts anticipate that PLAYSTUDIOS will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its holdings in shares of PLAYSTUDIOS by 152.0% in the second quarter. American Century Companies Inc. now owns 272,204 shares of the company’s stock valued at $563,000 after purchasing an additional 164,166 shares in the last quarter. Acadian Asset Management LLC lifted its position in PLAYSTUDIOS by 6.0% in the second quarter. Acadian Asset Management LLC now owns 1,408,991 shares of the company’s stock worth $2,914,000 after buying an additional 79,909 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in PLAYSTUDIOS in the second quarter worth $132,000. Bank of New York Mellon Corp lifted its position in PLAYSTUDIOS by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 494,667 shares of the company’s stock worth $1,024,000 after buying an additional 27,784 shares during the last quarter. Finally, Williams & Novak LLC bought a new stake in PLAYSTUDIOS in the second quarter worth $59,000. 37.52% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Company Profile

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.