Insider Selling: PLAYSTUDIOS, Inc. (NASDAQ:MYPS) General Counsel Sells 20,490 Shares of Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) General Counsel Joel Agena sold 20,490 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $1.41, for a total value of $28,890.90. Following the sale, the general counsel now directly owns 238,731 shares of the company's stock, valued at $336,610.71. This represents a 7.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Joel Agena also recently made the following trade(s):

• On Monday, June 23rd, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The stock was sold at an average price of $1.40, for a total value of $28,686.00.
• On Tuesday, June 17th, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The stock was sold at an average price of $1.41, for a total value of $28,890.90.
• On Monday, June 16th, Joel Agena sold 20,491 shares of PLAYSTUDIOS stock. The stock was sold at an average price of $1.43, for a total value of $29,302.13.

PLAYSTUDIOS Stock Up 0.7%

MYPS opened at $1.38 on Wednesday. The stock's fifty day moving average is $1.40 and its two-hundred day moving average is $1.57. The company has a market capitalization of $172.62 million, a P/E ratio of -5.75 and a beta of 0.91. PLAYSTUDIOS, Inc. has a 52 week low of $1.14 and a 52 week high of $2.29.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MYPS shares. Craig Hallum raised PLAYSTUDIOS from a "hold" rating to a "buy" rating and raised their price target for the stock from $2.00 to $3.00 in a research note on Friday, May 23rd. Macquarie reduced their price objective on PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Finally, Benchmark upgraded PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 price objective on the stock in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, PLAYSTUDIOS currently has a consensus rating of "Moderate Buy" and a consensus target price of $2.80.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of PLAYSTUDIOS by 0.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company's stock worth $1,328,000 after acquiring an additional 6,281 shares in the last quarter. ProShare Advisors LLC raised its position in shares of PLAYSTUDIOS by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 24,793 shares of the company's stock worth $46,000 after acquiring an additional 8,159 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of PLAYSTUDIOS by 34.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company's stock worth $74,000 after acquiring an additional 10,130 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of PLAYSTUDIOS by 248.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company's stock worth $29,000 after acquiring an additional 11,237 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of PLAYSTUDIOS by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 51,671 shares of the company's stock worth $96,000 after acquiring an additional 11,254 shares in the last quarter. 37.52% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.