PLAYSTUDIOS (NASDAQ:MYPS) Price Target Cut to $4.50

PLAYSTUDIOS (NASDAQ:MYPS – Get Rating) had its price target cut by analysts at Morgan Stanley from $4.70 to $4.50 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 3.69% from the stock’s current price.

PLAYSTUDIOS Stock Up 1.9 %

MYPS opened at $4.34 on Wednesday. The firm has a 50 day moving average price of $3.98 and a 200-day moving average price of $3.92. PLAYSTUDIOS has a twelve month low of $3.24 and a twelve month high of $6.60. The stock has a market capitalization of $563.70 million, a price-to-earnings ratio of -31.00, a PEG ratio of 14.11 and a beta of 0.10.

PLAYSTUDIOS (NASDAQ:MYPS – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). PLAYSTUDIOS had a negative net margin of 5.47% and a negative return on equity of 3.10%. The firm had revenue of $72.13 million during the quarter, compared to analysts’ expectations of $67.53 million. As a group, analysts expect that PLAYSTUDIOS will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC raised its holdings in shares of PLAYSTUDIOS by 0.3% during the first quarter. Clearbridge Investments LLC now owns 1,514,113 shares of the company’s stock valued at $7,343,000 after purchasing an additional 4,765 shares during the last quarter. Prelude Capital Management LLC increased its holdings in PLAYSTUDIOS by 5.4% during the first quarter. Prelude Capital Management LLC now owns 117,680 shares of the company’s stock valued at $571,000 after buying an additional 6,013 shares during the last quarter. BlackRock Inc. increased its holdings in PLAYSTUDIOS by 3.0% during the first quarter. BlackRock Inc. now owns 369,565 shares of the company’s stock valued at $1,793,000 after buying an additional 10,638 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in PLAYSTUDIOS during the second quarter valued at approximately $53,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in PLAYSTUDIOS during the third quarter valued at approximately $44,000. 23.07% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Company Profile

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PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States, North America, and internationally. The company is headquartered in Las Vegas, Nevada.