PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Sells $37,297.26 in Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Scott Edward Peterson sold 29,601 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 directly owns 504,397 shares in the company, valued at $635,540.22. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PLAYSTUDIOS Stock Up 7.7 %

Shares of MYPS opened at $1.26 on Friday. The stock’s fifty day simple moving average is $1.54 and its 200-day simple moving average is $1.66. The firm has a market capitalization of $168.17 million, a PE ratio of -6.63, a price-to-earnings-growth ratio of 17.60 and a beta of 0.90. PLAYSTUDIOS, Inc. has a 12-month low of $1.14 and a 12-month high of $2.90.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of PLAYSTUDIOS by 932.5% during the third quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock worth $1,995,000 after buying an additional 1,193,071 shares during the last quarter. Barclays PLC grew its holdings in PLAYSTUDIOS by 55.9% during the 3rd quarter. Barclays PLC now owns 234,332 shares of the company’s stock worth $354,000 after acquiring an additional 84,058 shares during the period. State Street Corp raised its position in shares of PLAYSTUDIOS by 0.7% during the 3rd quarter. State Street Corp now owns 1,733,679 shares of the company’s stock valued at $2,618,000 after acquiring an additional 12,472 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 215,347 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of PLAYSTUDIOS by 26.7% in the 4th quarter. SG Americas Securities LLC now owns 38,828 shares of the company’s stock worth $72,000 after purchasing an additional 8,179 shares during the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MYPS. JPMorgan Chase & Co. restated an “underweight” rating on shares of PLAYSTUDIOS in a report on Wednesday, December 18th. Benchmark reissued a “hold” rating on shares of PLAYSTUDIOS in a report on Tuesday, March 11th. Finally, Macquarie dropped their target price 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.