Scott Edward Peterson Sells 30,000 Shares of PLAYSTUDIOS (NASDAQ:MYPS) Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Scott Edward Peterson sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $0.67, for a total transaction of $20,100.00. Following the completion of the sale, the chief financial officer directly owned 395,517 shares of the company’s stock, valued at approximately $264,996.39. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Scott Edward Peterson also recently made the following trade(s):

• On Tuesday, November 11th, Scott Edward Peterson sold 32,952 shares of PLAYSTUDIOS stock. The stock was sold at an average price of $0.74, for a total transaction of $24,384.48.
• On Thursday, November 6th, Scott Edward Peterson sold 30,000 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $0.79, for a total transaction of $23,700.00.
• On Wednesday, September 10th, Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $0.95, for a total value of $23,750.00.

PLAYSTUDIOS Trading Down 7.1%

MYPS traded down $0.04 during trading on Thursday, hitting $0.58. 490,911 shares of the stock were exchanged, compared to its average volume of 278,320. The firm has a 50 day simple moving average of $0.90 and a 200 day simple moving average of $1.13. PLAYSTUDIOS, Inc. has a 1 year low of $0.58 and a 1 year high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. The business had revenue of $57.65 million for the quarter, compared to the consensus estimate of $58.77 million. PLAYSTUDIOS has set its FY 2025 guidance at EPS. Analysts forecast that PLAYSTUDIOS, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MYPS shares. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday. Wall Street Zen cut shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Zacks Research lowered shares of PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th. Finally, Benchmark reduced their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $2.00.

Institutional Investors Weigh In On PLAYSTUDIOS

Several hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its stake in shares of PLAYSTUDIOS by 118.5% during the 1st quarter. Mackenzie Financial Corp now owns 575,737 shares of the company’s stock valued at $731,000 after buying an additional 312,286 shares during the last quarter. Acadian Asset Management LLC raised its position in PLAYSTUDIOS by 13.5% during the second quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock valued at $2,127,000 after acquiring an additional 194,204 shares in the last quarter. Ieq Capital LLC purchased a new position in PLAYSTUDIOS during the first quarter valued at approximately $97,000. Strs Ohio acquired a new position in PLAYSTUDIOS in the first quarter valued at approximately $209,000. Finally, Nuveen LLC purchased a new stake in PLAYSTUDIOS in the 1st quarter worth approximately $277,000. 37.52% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Company Profile

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.