Key Points
- CFO Scott Edward Peterson sold 23,984 shares at an average price of $0.45 on April 7 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 5.99% and netting $10,792.80.
- PLAYSTUDIOS missed the quarter with EPS of ($0.09) versus a ($0.04) consensus and revenue of $55.4M (below estimates), and the stock opened at $0.45 and was down about 5.6%, trading near its 12‑month low.
- Analysts are mixed with a consensus rating of "Hold" and an average target of $1.25 (one Buy, two Hold, one Sell); the company has a market cap of about $57.5M and institutional ownership around 37.5%.
PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) CFO Scott Edward Peterson sold 23,984 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $0.45, for a total value of $10,792.80. Following the completion of the transaction, the chief financial officer owned 376,126 shares of the company's stock, valued at $169,256.70. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PLAYSTUDIOS Trading Down 5.6%
PLAYSTUDIOS stock opened at $0.45 on Friday. The company has a market capitalization of $57.53 million, a PE ratio of -2.04 and a beta of 0.95. PLAYSTUDIOS, Inc. has a 12 month low of $0.41 and a 12 month high of $1.69. The stock has a 50-day moving average price of $0.50 and a two-hundred day moving average price of $0.67.
PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its earnings results on Monday, March 16th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $55.40 million during the quarter, compared to the consensus estimate of $56.23 million. PLAYSTUDIOS had a negative net margin of 12.18% and a negative return on equity of 10.75%. As a group, analysts predict that PLAYSTUDIOS, Inc. will post -0.17 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC acquired a new stake in PLAYSTUDIOS in the third quarter worth $30,000. Franklin Resources Inc. bought a new stake in PLAYSTUDIOS in the third quarter valued at $46,000. Verdad Advisers LP bought a new stake in PLAYSTUDIOS in the fourth quarter valued at $48,000. Deutsche Bank AG bought a new stake in PLAYSTUDIOS in the fourth quarter valued at $61,000. Finally, Wells Fargo & Company MN increased its stake in PLAYSTUDIOS by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company's stock valued at $65,000 after purchasing an additional 31,685 shares in the last quarter. 37.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have commented on MYPS. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PLAYSTUDIOS in a report on Friday, March 27th. Benchmark reaffirmed a "hold" rating on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. Zacks Research raised PLAYSTUDIOS from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $1.00 target price on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $1.25.
Get Our Latest Research Report on MYPS
About PLAYSTUDIOS
(
Get Free Report)
PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.
Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
