Brokerages Set PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Price Target at $3.20

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) has been given a consensus recommendation of "Hold" by the six ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.20.

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Macquarie dropped their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Finally, Benchmark reissued a "hold" rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 11th.

Insider Buying and Selling at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 29,601 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total value of $37,297.26. Following the sale, the chief financial officer now owns 504,397 shares in the company, valued at $635,540.22. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 14.29% of the company's stock.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MYPS. JPMorgan Chase & Co. increased its stake in shares of PLAYSTUDIOS by 932.5% during the third quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company's stock valued at $1,995,000 after buying an additional 1,193,071 shares during the period. Ameriprise Financial Inc. grew its stake in PLAYSTUDIOS by 18.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company's stock valued at $4,430,000 after purchasing an additional 368,879 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of PLAYSTUDIOS in the 4th quarter valued at $490,000. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 215,347 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of PLAYSTUDIOS during the 4th quarter valued at approximately $179,000. Institutional investors own 37.52% of the company's stock.

PLAYSTUDIOS Stock Up 7.2 %

Shares of NASDAQ MYPS traded up $0.09 during midday trading on Wednesday, hitting $1.34. The stock had a trading volume of 137,785 shares, compared to its average volume of 219,420. The company has a market cap of $178.84 million, a P/E ratio of -7.05, a PEG ratio of 17.60 and a beta of 0.90. The business's 50 day moving average is $1.47 and its 200-day moving average is $1.65. PLAYSTUDIOS has a 52 week low of $1.14 and a 52 week high of $2.62.

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.