Insider Selling: 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 firm’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 transaction of $37,297.26. Following the sale, the chief financial officer now owns 504,397 shares in the company, valued at approximately $635,540.22. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PLAYSTUDIOS Price Performance

PLAYSTUDIOS stock opened at $1.17 on Friday. The company has a market cap of $156.15 million, a price-to-earnings ratio of -6.16, a price-to-earnings-growth ratio of 17.60 and a beta of 0.81. PLAYSTUDIOS, Inc. has a 12 month low of $1.14 and a 12 month high of $3.04. The stock’s 50-day moving average is $1.55 and its 200-day moving average is $1.66.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of large investors have recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in shares of PLAYSTUDIOS during the fourth quarter worth about $26,000. Tower Research Capital LLC TRC boosted its stake in shares of PLAYSTUDIOS by 248.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company’s stock valued at $29,000 after buying an additional 11,237 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of PLAYSTUDIOS during the fourth quarter worth approximately $33,000. XTX Topco Ltd bought a new stake in shares of PLAYSTUDIOS in the fourth quarter worth $34,000. Finally, Virtu Financial LLC acquired a new stake in PLAYSTUDIOS in the third quarter valued at $32,000. Institutional investors and hedge funds own 37.52% of the company’s stock.

Wall Street Analyst Weigh In

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