Insider Selling: PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Sells 25,000 Shares of Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) CFO Scott Edward Peterson sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $1.24, for a total transaction of $31,000.00. Following the sale, the chief financial officer directly owned 601,421 shares in the company, valued at approximately $745,762.04. This represents a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PLAYSTUDIOS Trading Down 0.8%

Shares of MYPS stock traded down $0.01 during trading hours on Monday, hitting $1.23. The company's stock had a trading volume of 204,569 shares, compared to its average volume of 229,314. The stock has a market cap of $153.85 million, a PE ratio of -5.13 and a beta of 0.90. PLAYSTUDIOS, Inc. has a 12-month low of $1.14 and a 12-month high of $2.29. The company has a 50 day moving average of $1.41 and a 200 day moving average of $1.50.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). PLAYSTUDIOS had a negative net margin of 11.30% and a negative return on equity of 5.83%. The company had revenue of $62.71 million for the quarter, compared to analyst estimates of $64.45 million. As a group, analysts anticipate that PLAYSTUDIOS, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of PLAYSTUDIOS

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC acquired a new position in PLAYSTUDIOS during the fourth quarter worth $26,000. Tower Research Capital LLC TRC increased its stake in PLAYSTUDIOS by 248.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company's stock worth $29,000 after buying an additional 11,237 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of PLAYSTUDIOS during the fourth quarter valued at approximately $33,000. XTX Topco Ltd purchased a new position in shares of PLAYSTUDIOS in the fourth quarter valued at approximately $34,000. Finally, ProShare Advisors LLC boosted its stake in shares of PLAYSTUDIOS by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 24,793 shares of the company's stock worth $46,000 after acquiring an additional 8,159 shares during the last quarter. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Benchmark upgraded shares of PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 price objective for the company in a research note on Tuesday, May 6th. Craig Hallum raised PLAYSTUDIOS from a "hold" rating to a "buy" rating and lifted their price target for the stock from $2.00 to $3.00 in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PLAYSTUDIOS presently has an average rating of "Moderate Buy" and an average price target of $2.80.

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.

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