Insider Selling: PLAYSTUDIOS, Inc. (NASDAQ:MYPS) General Counsel Sells 20,000 Shares of Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) General Counsel Joel Agena sold 20,000 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $1.35, for a total transaction of $27,000.00. Following the completion of the sale, the general counsel owned 75,301 shares of the company's stock, valued at $101,656.35. The trade was a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, July 1st, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.33, for a total value of $27,251.70.
• On Wednesday, June 25th, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.37, for a total transaction of $28,071.30.
• 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 Friday, June 20th, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.41, for a total value of $28,890.90.
• 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 transaction of $28,890.90.
• On Monday, June 16th, Joel Agena sold 20,491 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.43, for a total value of $29,302.13.

PLAYSTUDIOS Stock Up 2.2%

Shares of NASDAQ:MYPS traded up $0.03 during midday trading on Friday, hitting $1.37. 118,349 shares of the stock traded hands, compared to its average volume of 236,158. The business's 50 day moving average is $1.41 and its two-hundred day moving average is $1.53. The stock has a market capitalization of $171.23 million, a PE ratio of -5.70 and a beta of 0.90. PLAYSTUDIOS, Inc. has a one year low of $1.14 and a one year high of $2.29.

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

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors have recently modified their holdings of MYPS. Strs Ohio bought a new stake in shares of PLAYSTUDIOS during the first quarter valued at approximately $209,000. Acadian Asset Management LLC lifted its position in PLAYSTUDIOS by 5.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,433,255 shares of the company's stock valued at $1,816,000 after acquiring an additional 72,511 shares in the last quarter. Jane Street Group LLC bought a new position in PLAYSTUDIOS in the 1st quarter valued at approximately $203,000. NewEdge Advisors LLC boosted its stake in PLAYSTUDIOS by 5,260.6% during the 1st quarter. NewEdge Advisors LLC now owns 134,015 shares of the company's stock valued at $170,000 after purchasing an additional 131,515 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of PLAYSTUDIOS in the first quarter worth $97,000. 37.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on MYPS shares. Benchmark raised PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 target price for the company in a research report on Tuesday, May 6th. Macquarie decreased their price objective on PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Finally, Craig Hallum raised shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and upped their price objective for the company from $2.00 to $3.00 in a report on Friday, May 23rd. 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2.80.

PLAYSTUDIOS Company Profile

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.