PLAYSTUDIOS (NASDAQ:MYPS) Given “Underweight” Rating at JPMorgan Chase & Co.

PLAYSTUDIOS (NASDAQ:MYPS)‘s stock had its “underweight” rating restated by investment analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, MarketBeat reports.

Separately, Stifel Nicolaus lowered their price objective on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, PLAYSTUDIOS presently has an average rating of “Hold” and a consensus price target of $3.63.

PLAYSTUDIOS Stock Performance

MYPS opened at $1.95 on Wednesday. The stock has a fifty day moving average of $1.72 and a 200-day moving average of $1.79. PLAYSTUDIOS has a fifty-two week low of $1.20 and a fifty-two week high of $3.04. The company has a market capitalization of $243.13 million, a P/E ratio of -10.26 and a beta of 0.82.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its 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. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The firm had revenue of $71.23 million for the quarter, compared to analyst estimates of $69.62 million. During the same quarter in the prior year, the business posted $0.02 EPS. On average, equities research analysts predict that PLAYSTUDIOS will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at PLAYSTUDIOS

In related news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1.74, for a total value of $43,500.00. Following the sale, the chief financial officer now directly owns 558,998 shares of the company’s stock, valued at $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 14.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP grew its holdings in shares of PLAYSTUDIOS by 14.5% during 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of PLAYSTUDIOS by 10.8% during the third quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock worth $3,339,000 after buying an additional 215,347 shares during the last quarter. American Century Companies Inc. grew its stake in shares of PLAYSTUDIOS by 152.0% during the second quarter. American Century Companies Inc. now owns 272,204 shares of the company’s stock worth $563,000 after buying an additional 164,166 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of PLAYSTUDIOS by 157.5% during the third quarter. Los Angeles Capital Management LLC now owns 163,764 shares of the company’s stock worth $247,000 after buying an additional 100,166 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of PLAYSTUDIOS by 55.9% in the 3rd quarter. Barclays PLC now owns 234,332 shares of the company’s stock valued at $354,000 after acquiring an additional 84,058 shares during the last quarter. Institutional investors own 37.52% of the company’s stock.

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.