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 on 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 owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 Trading Up 6.2 %

Shares of NASDAQ:MYPS traded up $0.10 during trading on Wednesday, reaching $1.72. 178,957 shares of the company traded hands, compared to its average volume of 272,033. PLAYSTUDIOS, Inc. has a 52-week low of $1.20 and a 52-week high of $3.04. The firm has a market capitalization of $214.46 million, a price-to-earnings ratio of -8.53 and a beta of 0.61. The business’s fifty day moving average is $1.52 and its 200-day moving average is $1.84.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 last year, the firm earned $0.02 EPS. On average, sell-side analysts predict that PLAYSTUDIOS, Inc. will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MYPS. Price T Rowe Associates Inc. MD lifted its holdings in PLAYSTUDIOS by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock worth $70,000 after buying an additional 4,546 shares during the period. Williams & Novak LLC raised its holdings in shares of PLAYSTUDIOS by 25.2% during the third quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after acquiring an additional 7,180 shares in the last quarter. Clearbridge Investments LLC lifted its stake in 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 acquiring an additional 8,506 shares during the period. Sei Investments Co. boosted its holdings in PLAYSTUDIOS by 17.2% in the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock valued at $156,000 after acquiring an additional 11,057 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in PLAYSTUDIOS in the second quarter valued at $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.