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

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of PLAYSTUDIOS (NASDAQ:MYPS - Free Report) in a research note published on Wednesday, MarketBeat reports.

Separately, Stifel Nicolaus reduced their target price on PLAYSTUDIOS from $4.00 to $3.50 and set a "buy" rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, PLAYSTUDIOS has an average rating of "Hold" and a consensus target price of $3.63.

PLAYSTUDIOS Stock Performance

MYPS traded down $0.12 on Wednesday, hitting $1.98. 463,870 shares of the company were exchanged, compared to its average volume of 270,062. The stock's fifty day moving average is $1.71 and its 200-day moving average is $1.79. PLAYSTUDIOS has a 12 month low of $1.20 and a 12 month high of $3.04. The company has a market cap of $246.87 million, a PE ratio of -10.42 and a beta of 0.82.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $71.23 million for the quarter, compared to the consensus estimate of $69.62 million. PLAYSTUDIOS had a negative return on equity of 9.15% and a negative net margin of 8.75%. During the same quarter in the previous year, the business earned $0.02 earnings per share. As a group, equities research analysts expect that PLAYSTUDIOS will post -0.16 EPS for the current fiscal year.

Insider Activity

In related news, CFO Scott Edward Peterson sold 25,000 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1.74, for a total transaction of $43,500.00. Following the sale, the chief financial officer now directly owns 558,998 shares in the company, valued at approximately $972,656.52. The trade was a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 14.29% of the company's stock.

Institutional Trading of PLAYSTUDIOS

Several institutional investors and hedge funds have recently bought and sold shares of MYPS. Virtu Financial LLC purchased a new position in shares of PLAYSTUDIOS in the 3rd quarter worth about $32,000. SG Americas Securities LLC grew its position in shares of PLAYSTUDIOS by 82.4% in the 3rd quarter. SG Americas Securities LLC now owns 30,649 shares of the company's stock worth $46,000 after buying an additional 13,846 shares during the last quarter. Williams & Novak LLC lifted its position in shares of PLAYSTUDIOS by 25.2% in the 3rd 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 period. AQR Capital Management LLC bought a new position in PLAYSTUDIOS in the second quarter worth about $68,000. Finally, XTX Topco Ltd purchased a new position in shares of PLAYSTUDIOS during the 2nd quarter worth approximately $89,000. 37.52% of the stock is currently owned by hedge funds and other 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.