PLAYSTUDIOS (NASDAQ:MYPS) CFO Scott Edward Peterson Sells 23,984 Shares

Key Points

• CFO Scott Edward Peterson sold 23,984 shares on April 7 at an average price of $0.45 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 5.99% to 376,126 shares (valued at ~$169,257).
• PLAYSTUDIOS missed the quarter with EPS of ($0.09) versus a ($0.04) consensus and revenue of $55.4M (vs. $56.23M expected); the stock traded down ~5.6% to $0.45 and the company has a market cap of ~$57.5M.
• Analyst coverage is mixed — one Buy, two Hold and one Sell — leaving a MarketBeat consensus rating of Hold with a $1.25 average target price.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) CFO Scott Edward Peterson sold 23,984 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $0.45, for a total value of $10,792.80. Following the sale, the chief financial officer directly owned 376,126 shares of the company's stock, valued at $169,256.70. This represents a 5.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PLAYSTUDIOS Trading Down 5.6%

NASDAQ MYPS traded down $0.03 during trading hours on Thursday, hitting $0.45. 309,648 shares of the company's stock were exchanged, compared to its average volume of 303,090. The stock has a 50-day simple moving average of $0.50 and a 200 day simple moving average of $0.67. PLAYSTUDIOS, Inc. has a 1-year low of $0.41 and a 1-year high of $1.69. The firm has a market cap of $57.53 million, a price-to-earnings ratio of -2.04 and a beta of 0.95.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last released its earnings results on Monday, March 16th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). PLAYSTUDIOS had a negative return on equity of 10.75% and a negative net margin of 12.18%.The business had revenue of $55.40 million for the quarter, compared to analyst estimates of $56.23 million. On average, sell-side analysts anticipate that PLAYSTUDIOS, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MYPS has been the subject of a number of research reports. Weiss Ratings reissued a "sell (e+)" rating on shares of PLAYSTUDIOS in a research note on Friday, March 27th. Benchmark reissued a "hold" rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Zacks Research raised PLAYSTUDIOS from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 10th. Finally, Craig Hallum reiterated a "buy" rating and set a $1.00 price objective on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $1.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Orion Porfolio Solutions LLC purchased a new position in shares of PLAYSTUDIOS during the third quarter valued at approximately $30,000. Franklin Resources Inc. purchased a new position in shares of PLAYSTUDIOS during the third quarter valued at approximately $46,000. Verdad Advisers LP purchased a new position in shares of PLAYSTUDIOS during the fourth quarter valued at approximately $48,000. Deutsche Bank AG purchased a new position in shares of PLAYSTUDIOS during the fourth quarter valued at approximately $61,000. Finally, Wells Fargo & Company MN boosted its position in shares of PLAYSTUDIOS by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company's stock valued at $65,000 after buying an additional 31,685 shares during the last quarter. Hedge funds and other institutional investors own 37.52% of the company's stock.

About PLAYSTUDIOS

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.