Insider Selling: PLAYSTUDIOS, Inc. (NASDAQ:MYPS) General Counsel Sells $28,071.30 in 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 Wednesday, June 25th. The shares were sold at an average price of $1.37, for a total value of $28,071.30. Following the completion of the sale, the general counsel now directly owns 177,261 shares in the company, valued at $242,847.57. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction of $28,686.00.
• On Friday, June 20th, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The stock was sold at an average price of $1.41, for a total transaction of $28,890.90.
• On Tuesday, June 17th, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.41, for a total transaction 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 Down 3.6%

Shares of MYPS stock opened at $1.33 on Friday. The company has a market capitalization of $166.36 million, a P/E ratio of -5.54 and a beta of 0.91. PLAYSTUDIOS, Inc. has a 12-month low of $1.14 and a 12-month high of $2.29. The firm has a 50-day moving average price of $1.40 and a 200 day moving average price of $1.56.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.02) earnings per share for the quarter, hitting 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 during the quarter, compared to analyst estimates of $64.45 million. As a group, research analysts expect that PLAYSTUDIOS, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of PLAYSTUDIOS

A number of hedge funds and other institutional investors have recently made changes to their positions in MYPS. Proficio Capital Partners LLC bought a new stake in PLAYSTUDIOS during the 4th quarter worth about $26,000. Tower Research Capital LLC TRC raised its stake in shares of PLAYSTUDIOS by 248.4% in the fourth 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 during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of PLAYSTUDIOS during the fourth quarter worth approximately $33,000. XTX Topco Ltd acquired a new stake in shares of PLAYSTUDIOS in the fourth quarter valued at approximately $34,000. Finally, ProShare Advisors LLC raised its position in 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 purchasing an additional 8,159 shares during the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Macquarie cut their target price on PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Craig Hallum raised shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and raised their price objective for the stock from $2.00 to $3.00 in a report on Friday, May 23rd. Finally, Benchmark raised shares of PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 target price on the stock in a research note on Tuesday, May 6th. One 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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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