Insider Selling: PLAYSTUDIOS (NASDAQ:MYPS) CFO Sells 25,000 Shares of Stock

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 business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $0.95, for a total value of $23,750.00. Following the transaction, the chief financial officer owned 551,421 shares in the company, valued at $523,849.95. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Down 0.1%

MYPS traded down $0.00 on Tuesday, hitting $0.96. 298,272 shares of the stock traded hands, compared to its average volume of 197,375. PLAYSTUDIOS, Inc. has a 52 week low of $0.90 and a 52 week high of $2.29. The firm has a market capitalization of $120.10 million, a PE ratio of -3.99 and a beta of 0.88. The business has a fifty day moving average price of $1.07 and a two-hundred day moving average price of $1.26.

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

Analyst Ratings Changes

Separately, Craig Hallum upgraded 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 research note on Friday, May 23rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $2.50.

Institutional Investors Weigh In On PLAYSTUDIOS

Several large investors have recently modified their holdings of the stock. ProShare Advisors LLC grew 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 valued at $46,000 after purchasing an additional 8,159 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of PLAYSTUDIOS by 1.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 723,424 shares of the company's stock worth $919,000 after acquiring an additional 9,517 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 boosted its holdings 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, D. E. Shaw & Co. Inc. boosted its holdings in shares of PLAYSTUDIOS by 5.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 230,008 shares of the company's stock worth $428,000 after acquiring an additional 12,415 shares in the last quarter. 37.52% of the stock is currently 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.