Insider Selling: PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Sells 29,601 Shares of Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Scott Edward Peterson sold 29,601 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total transaction of $37,297.26. Following the transaction, the chief financial officer now owns 504,397 shares in the company, valued at approximately $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 accessible through this hyperlink.

PLAYSTUDIOS Stock Performance

Shares of MYPS opened at $1.26 on Friday. PLAYSTUDIOS, Inc. has a 52-week low of $1.14 and a 52-week high of $2.91. The firm has a market cap of $168.17 million, a price-to-earnings ratio of -6.63, a PEG ratio of 17.60 and a beta of 0.81. The business’s fifty day moving average is $1.54 and its 200-day moving average is $1.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of PLAYSTUDIOS by 0.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company’s stock worth $1,328,000 after acquiring an additional 6,281 shares during the last quarter. ProShare Advisors LLC lifted its stake in PLAYSTUDIOS by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 24,793 shares of the company’s stock valued at $46,000 after purchasing an additional 8,159 shares during the last quarter. SG Americas Securities LLC lifted its stake in PLAYSTUDIOS by 26.7% in the 4th 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 grew 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 buying an additional 9,600 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of PLAYSTUDIOS by 34.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company’s stock worth $74,000 after buying an additional 10,130 shares in the last quarter. Institutional investors own 37.52% of the company’s stock.

Analysts Set New Price Targets

MYPS has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 11th. Macquarie decreased their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of PLAYSTUDIOS in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.20.

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.