Ameriprise Financial Inc. lifted its holdings in PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,381,542 shares of the company's stock after acquiring an additional 368,879 shares during the quarter. Ameriprise Financial Inc. owned 1.91% of PLAYSTUDIOS worth $4,430,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MYPS. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of PLAYSTUDIOS by 0.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company's stock worth $1,328,000 after buying an additional 6,281 shares during the period. SG Americas Securities LLC increased its position in PLAYSTUDIOS by 26.7% during the 4th quarter. SG Americas Securities LLC now owns 38,828 shares of the company's stock valued at $72,000 after purchasing an additional 8,179 shares during the period. Williams & Novak LLC increased its position in PLAYSTUDIOS by 26.9% during the 4th quarter. Williams & Novak LLC now owns 45,300 shares of the company's stock valued at $84,000 after purchasing an additional 9,600 shares during the period. Price T Rowe Associates Inc. MD increased its position in PLAYSTUDIOS by 34.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company's stock valued at $74,000 after purchasing an additional 10,130 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in PLAYSTUDIOS by 248.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company's stock valued at $29,000 after purchasing an additional 11,237 shares during the period. 37.52% of the stock is currently owned by institutional investors.
Insider Transactions at PLAYSTUDIOS
In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 29,601 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total transaction of $37,297.26. Following the sale, the chief financial officer now owns 504,397 shares in the company, valued at approximately $635,540.22. This trade represents a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.29% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on MYPS shares. Craig Hallum raised shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and boosted their price objective for the company from $2.00 to $3.00 in a research report on Friday, May 23rd. Benchmark raised shares of PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 price objective on the stock in a research report on Tuesday, May 6th. Finally, Macquarie reduced their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2.80.
Read Our Latest Research Report on MYPS
PLAYSTUDIOS Stock Down 5.0%
Shares of NASDAQ:MYPS traded down $0.07 during midday trading on Wednesday, reaching $1.34. The company's stock had a trading volume of 344,299 shares, compared to its average volume of 218,733. The firm has a 50 day moving average of $1.34 and a 200-day moving average of $1.62. The firm has a market capitalization of $167.61 million, a P/E ratio of -7.05, a PEG ratio of 17.60 and a beta of 0.89. PLAYSTUDIOS, Inc. has a 12-month low of $1.14 and a 12-month high of $2.46.
PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $62.71 million for the quarter, compared to analysts' expectations of $64.45 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. On average, research analysts predict that PLAYSTUDIOS, Inc. will post -0.17 EPS for the current year.
About PLAYSTUDIOS
(
Free Report)
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.
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