PLAYSTUDIOS (NASDAQ:MYPS) Shares Down 5.2% - Should You Sell?

Key Points

• Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) dropped 5.2% to a trading value of $0.95, with trading volume decreasing by 6% compared to the average daily volume.
• Wall Street analysts have upgraded the stock, with Benchmark raising its target price to $2.00 and Craig Hallum increasing it to $3.00, indicating a general positive sentiment towards the company's future.
• Despite a negative earnings report with a net margin of -12.00%, insider selling activity was noted with significant sales by both the CFO and General Counsel in recent months.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report)'s share price was down 5.2% during trading on Thursday . The company traded as low as $0.95 and last traded at $0.95. Approximately 248,469 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 264,993 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MYPS shares. Craig Hallum upgraded shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and boosted their target price for the stock from $2.00 to $3.00 in a report on Friday, May 23rd. Benchmark upgraded shares of PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 target price for the company in a report on Tuesday, May 6th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PLAYSTUDIOS presently has a consensus rating of "Hold" and a consensus price target of $2.50.

PLAYSTUDIOS Price Performance

The company's fifty day moving average is $1.16 and its two-hundred day moving average is $1.33.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The firm had revenue of $59.34 million for the quarter, compared to analyst estimates of $61.63 million. PLAYSTUDIOS had a negative return on equity of 6.07% and a negative net margin of 12.00%. 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.

Insider Buying and Selling

In other news, CFO Scott Edward Peterson sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $1.24, for a total transaction of $31,000.00. Following the sale, the chief financial officer owned 601,421 shares of the company's stock, valued at $745,762.04. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Joel Agena sold 20,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $1.27, for a total value of $25,400.00. Following the transaction, the general counsel owned 35,301 shares in the company, valued at $44,832.27. This trade represents a 36.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,430 shares of company stock worth $268,624 in the last ninety days. Corporate insiders own 14.67% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYPS. Ameriprise Financial Inc. increased its stake in shares of PLAYSTUDIOS by 35.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company's stock worth $4,378,000 after acquiring an additional 870,521 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of PLAYSTUDIOS by 13.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company's stock worth $2,127,000 after acquiring an additional 194,204 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of PLAYSTUDIOS in the 2nd quarter worth $1,287,000. Northern Trust Corp increased its stake in shares of PLAYSTUDIOS by 6.1% in the 4th quarter. Northern Trust Corp now owns 786,880 shares of the company's stock worth $1,464,000 after acquiring an additional 44,983 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake 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 during the last quarter. Hedge funds and other institutional investors own 37.52% of the company's stock.

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.