PLAYSTUDIOS (NASDAQ:MYPS) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of PLAYSTUDIOS (NASDAQ:MYPS) from a strong sell rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th. Benchmark cut their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a report on Tuesday, November 4th. Finally, Wall Street Zen cut shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PLAYSTUDIOS has an average rating of “Hold” and a consensus price target of $2.00.

PLAYSTUDIOS Stock Performance

MYPS opened at $0.48 on Tuesday. PLAYSTUDIOS has a 52-week low of $0.47 and a 52-week high of $1.90. The firm has a market cap of $60.46 million, a P/E ratio of -1.65 and a beta of 0.92. The business’s fifty day moving average is $0.63 and its 200-day moving average is $0.82.

Institutional Investors Weigh In On PLAYSTUDIOS

Hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its holdings in shares of PLAYSTUDIOS by 35.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after purchasing an additional 870,521 shares during the last quarter. Acadian Asset Management LLC lifted its stake in PLAYSTUDIOS by 13.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock valued at $2,127,000 after purchasing an additional 194,204 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in PLAYSTUDIOS in the second quarter valued at approximately $1,287,000. Almitas Capital LLC bought a new stake in shares of PLAYSTUDIOS during the third quarter worth $897,000. Finally, Mackenzie Financial Corp grew its stake in shares of PLAYSTUDIOS by 46.3% during the third quarter. Mackenzie Financial Corp now owns 826,631 shares of the company’s stock worth $796,000 after buying an additional 261,518 shares during the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.