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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Scott Edward Peterson sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total transaction of $37,500.00. Following the completion of the transaction, the chief financial officer now owns 583,998 shares of the company’s stock, valued at approximately $875,997. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

PLAYSTUDIOS Stock Performance

NASDAQ:MYPS traded down $0.07 during mid-day trading on Friday, hitting $1.41. 268,163 shares of the company’s stock traded hands, compared to its average volume of 275,351. The firm’s 50 day simple moving average is $1.53 and its 200 day simple moving average is $1.99. PLAYSTUDIOS, Inc. has a 1 year low of $1.40 and a 1 year high of $3.04. The company has a market cap of $190.07 million, a PE ratio of -10.85 and a beta of 0.59.

PLAYSTUDIOS (NASDAQ:MYPS) last released its earnings results on Monday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $72.59 million for the quarter, compared to analysts’ expectations of $73.49 million. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. During the same period last year, the company earned ($0.02) earnings per share. On average, research analysts expect that PLAYSTUDIOS, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on MYPS. Northland Securities decreased their price target on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Benchmark cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Stifel Nicolaus decreased their price target on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Friday. Finally, Craig Hallum cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and decreased their price target for the stock from $4.00 to $2.00 in a research note on Tuesday, August 6th.

Institutional Trading of PLAYSTUDIOS

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of PLAYSTUDIOS by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock valued at $70,000 after purchasing an additional 4,546 shares during the period. Williams & Novak LLC increased its stake in shares of PLAYSTUDIOS by 25.2% in the third quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock worth $54,000 after buying an additional 7,180 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of PLAYSTUDIOS by 0.5% in the first quarter. Clearbridge Investments LLC now owns 1,734,979 shares of the company’s stock worth $4,823,000 after buying an additional 8,506 shares during the last quarter. Sei Investments Co. increased its stake in shares of PLAYSTUDIOS by 17.2% in the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock worth $156,000 after buying an additional 11,057 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new stake in shares of PLAYSTUDIOS in the second quarter worth $25,000. Hedge funds and other institutional investors own 37.52% of the company’s stock.

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.