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 dated Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total transaction of $37,297.26. Following the transaction, the chief financial officer now directly 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 legal filing with the SEC, which is available at this hyperlink.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock traded down $0.08 during trading hours on Thursday, reaching $1.17. 280,478 shares of the stock were exchanged, compared to its average volume of 221,096. The stock has a market cap of $156.15 million, a P/E ratio of -6.16, a P/E/G ratio of 17.60 and a beta of 0.81. PLAYSTUDIOS, Inc. has a 52-week low of $1.14 and a 52-week high of $3.04. The firm’s 50 day moving average is $1.57 and its 200 day moving average is $1.66.

Institutional Investors Weigh In On PLAYSTUDIOS

Several institutional investors have recently modified their holdings of MYPS. Mackenzie Financial Corp purchased a new position in PLAYSTUDIOS during the fourth quarter worth about $490,000. Two Sigma Investments LP boosted its holdings in shares of PLAYSTUDIOS by 15.7% in the 4th quarter. Two Sigma Investments LP now owns 186,152 shares of the company’s stock valued at $346,000 after purchasing an additional 25,224 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of PLAYSTUDIOS by 19.5% during the 4th quarter. Two Sigma Advisers LP now owns 222,900 shares of the company’s stock valued at $415,000 after buying an additional 36,400 shares during the period. ProShare Advisors LLC increased its holdings in shares of PLAYSTUDIOS by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 24,793 shares of the company’s stock worth $46,000 after buying an additional 8,159 shares during the last quarter. Finally, Man Group plc boosted its holdings in PLAYSTUDIOS by 28.1% in the fourth quarter. Man Group plc now owns 309,761 shares of the company’s stock valued at $576,000 after acquiring an additional 67,972 shares during the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Macquarie reduced their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of PLAYSTUDIOS in a report on Wednesday, December 18th. Finally, Benchmark restated a “hold” rating on shares of PLAYSTUDIOS in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, PLAYSTUDIOS presently has an average 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.