Insider Selling: PLAYSTUDIOS, Inc. (NASDAQ:MYPS) General Counsel Sells 20,490 Shares of Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) General Counsel Joel Agena sold 20,490 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $1.41, for a total value of $28,890.90. Following the sale, the general counsel now directly owns 279,711 shares of the company’s stock, valued at approximately $394,392.51. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Joel Agena also recently made the following trade(s):

• On Monday, June 16th, Joel Agena sold 20,491 shares of PLAYSTUDIOS stock. The stock was sold at an average price of $1.43, for a total value of $29,302.13.

PLAYSTUDIOS Price Performance

MYPS opened at $1.43 on Thursday. The stock has a market capitalization of $178.86 million, a price-to-earnings ratio of -5.96 and a beta of 0.91. The business has a 50-day moving average of $1.39 and a two-hundred day moving average of $1.59. PLAYSTUDIOS, Inc. has a 12 month low of $1.14 and a 12 month high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $62.71 million for the quarter, compared to analyst estimates of $64.45 million. PLAYSTUDIOS had a negative return on equity of 5.83% and a negative net margin of 11.30%. Equities research analysts anticipate that PLAYSTUDIOS, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On PLAYSTUDIOS

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in shares of PLAYSTUDIOS by 18.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock valued at $4,430,000 after purchasing an additional 368,879 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of PLAYSTUDIOS by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,226,873 shares of the company’s stock valued at $4,143,000 after purchasing an additional 15,853 shares in the last quarter. Acadian Asset Management LLC lifted its position in PLAYSTUDIOS by 5.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,433,255 shares of the company’s stock worth $1,816,000 after acquiring an additional 72,511 shares in the last quarter. Northern Trust Corp lifted its position in PLAYSTUDIOS by 6.1% during 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in PLAYSTUDIOS by 1.3% during 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. 37.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MYPS. Macquarie cut their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Benchmark raised PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 price target for the company in a research note on Tuesday, May 6th. Finally, Craig Hallum raised PLAYSTUDIOS from a “hold” rating to a “buy” rating and lifted their price target for the stock from $2.00 to $3.00 in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2.80.

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.