PLAYSTUDIOS (NASDAQ:MYPS) CFO Scott Edward Peterson Sells 25,000 Shares

Key Points

• CFO Scott Edward Peterson of PLAYSTUDIOS sold 25,000 shares at an average price of $0.95, reducing his ownership by 4.34% to 551,421 shares.
• Despite reporting revenue of $59.34 million and a loss per share of ($0.02), the company missed analyst expectations, prompting analysts to set a new average target price of $2.50.
• Craig Hallum upgraded PLAYSTUDIOS from a "hold" to a "buy" rating, increasing the target price from $2.00 to $3.00.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) CFO Scott Edward Peterson sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $0.95, for a total value of $23,750.00. Following the completion of the transaction, the chief financial officer directly owned 551,421 shares in the company, valued at $523,849.95. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Scott Edward Peterson also recently made the following trade(s):

• On Thursday, July 10th, Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.24, for a total value of $31,000.00.

PLAYSTUDIOS Trading Up 0.1%

MYPS stock traded up $0.00 during midday trading on Thursday, hitting $0.96. The company's stock had a trading volume of 273,312 shares, compared to its average volume of 231,967. The company has a market cap of $119.87 million, a PE ratio of -3.98 and a beta of 0.88. The firm's 50-day moving average is $1.10 and its 200-day moving average is $1.28. PLAYSTUDIOS, Inc. has a 12 month low of $0.90 and a 12 month high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The company had revenue of $59.34 million for the quarter, compared to analysts' expectations of $61.63 million. PLAYSTUDIOS had a negative net margin of 12.00% and a negative return on equity of 6.07%. PLAYSTUDIOS has set its FY 2025 guidance at EPS. Analysts expect that PLAYSTUDIOS, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Craig Hallum upgraded shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and boosted their target price for the company from $2.00 to $3.00 in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PLAYSTUDIOS presently has an average rating of "Hold" and an average target price of $2.50.

Institutional Investors Weigh In On PLAYSTUDIOS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake 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 purchasing an additional 11,237 shares in the last quarter. ProShare Advisors LLC increased its stake 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 purchasing an additional 8,159 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of PLAYSTUDIOS in the 2nd quarter worth $49,000. Price T Rowe Associates Inc. MD increased its stake 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 purchasing an additional 10,130 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of PLAYSTUDIOS in the 1st quarter worth $97,000. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

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