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 PLAYSTUDIOS stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.74, for a total value of $43,500.00. Following the completion of the transaction, the chief financial officer now directly owns 558,998 shares of the company’s stock, valued at $972,656.52. This represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, October 16th, Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock. The stock was sold at an average price of $1.50, for a total value of $37,500.00.

PLAYSTUDIOS Stock Performance

NASDAQ:MYPS opened at $1.72 on Thursday. PLAYSTUDIOS, Inc. has a 12-month low of $1.20 and a 12-month high of $3.04. The stock’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $1.84.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $71.23 million for the quarter, compared to analyst estimates of $69.62 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. During the same quarter in the prior year, the business earned $0.02 EPS. Equities analysts predict that PLAYSTUDIOS, Inc. will post -0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MYPS has been the topic of several analyst reports. Craig Hallum lowered PLAYSTUDIOS from a “buy” rating to a “hold” rating and cut their target price for the company from $4.00 to $2.00 in a research note on Tuesday, August 6th. Stifel Nicolaus reduced their target price on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Friday, October 18th. Benchmark cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Northland Securities decreased their price objective on PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors have recently modified their holdings of MYPS. Rubric Capital Management LP increased its holdings in shares of PLAYSTUDIOS by 14.5% during the second quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock worth $5,612,000 after purchasing an additional 342,413 shares during the period. Geode Capital Management LLC increased its position in PLAYSTUDIOS by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock valued at $3,339,000 after acquiring an additional 215,347 shares during the period. Clearbridge Investments LLC raised its position in PLAYSTUDIOS by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,734,979 shares of the company’s stock worth $4,823,000 after purchasing an additional 8,506 shares during the last quarter. State Street Corp raised its position in shares of PLAYSTUDIOS by 0.7% during the third quarter. State Street Corp now owns 1,733,679 shares of the company’s stock worth $2,618,000 after acquiring an additional 12,472 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in PLAYSTUDIOS by 6.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,408,991 shares of the company’s stock worth $2,914,000 after purchasing an additional 79,909 shares during the last quarter. 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.