Scott Edward Peterson Sells 29,601 Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Scott Edward Peterson sold 29,601 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total value of $37,297.26. Following the completion of the transaction, the chief financial officer now owns 504,397 shares of the company’s stock, valued at $635,540.22. The trade was a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PLAYSTUDIOS Trading Up 7.7 %

MYPS opened at $1.26 on Friday. PLAYSTUDIOS, Inc. has a 1-year low of $1.14 and a 1-year high of $2.91. The stock’s fifty day simple moving average is $1.54 and its 200 day simple moving average is $1.66. The stock has a market cap of $168.17 million, a PE ratio of -6.63, a price-to-earnings-growth ratio of 17.60 and a beta of 0.81.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MYPS shares. JPMorgan Chase & Co. restated an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Benchmark reissued a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 11th. Finally, Macquarie cut their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.20.

Hedge Funds Weigh In On PLAYSTUDIOS

Several institutional investors and hedge funds have recently modified their holdings of MYPS. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of PLAYSTUDIOS by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company’s stock worth $1,328,000 after buying an additional 6,281 shares during the period. ProShare Advisors LLC lifted its position in PLAYSTUDIOS by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 24,793 shares of the company’s stock worth $46,000 after acquiring an additional 8,159 shares during the last quarter. SG Americas Securities LLC grew its position in shares of PLAYSTUDIOS by 26.7% in the fourth quarter. SG Americas Securities LLC now owns 38,828 shares of the company’s stock valued at $72,000 after purchasing an additional 8,179 shares during the last quarter. Williams & Novak LLC increased its stake in shares of PLAYSTUDIOS by 26.9% during the fourth quarter. Williams & Novak LLC now owns 45,300 shares of the company’s stock worth $84,000 after purchasing an additional 9,600 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in PLAYSTUDIOS by 34.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company’s stock worth $74,000 after purchasing an additional 10,130 shares during the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

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.