Joel Agena Sells 20,491 Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) General Counsel Joel Agena sold 20,491 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $1.43, for a total transaction of $29,302.13. Following the completion of the sale, the general counsel now directly owns 300,201 shares in the company, valued at $429,287.43. This trade represents a 6.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Joel Agena also recently made the following trade(s):

• On Tuesday, June 17th, Joel Agena sold 20,490 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.41, for a total transaction of $28,890.90.

PLAYSTUDIOS Trading Up 2.1%

PLAYSTUDIOS stock opened at $1.43 on Thursday. PLAYSTUDIOS, Inc. has a 1 year low of $1.14 and a 1 year high of $2.29. The company has a market cap of $178.86 million, a PE ratio of -5.96 and a beta of 0.91. The company’s 50-day moving average is $1.39 and its two-hundred day moving average is $1.59.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). PLAYSTUDIOS had a negative net margin of 11.30% and a negative return on equity of 5.83%. The business had revenue of $62.71 million for the quarter, compared to the consensus estimate of $64.45 million. Research analysts forecast that PLAYSTUDIOS, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On PLAYSTUDIOS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in PLAYSTUDIOS during the 4th quarter valued at $26,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in PLAYSTUDIOS by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,907 shares of the company’s stock worth $1,328,000 after acquiring an additional 6,281 shares in the last quarter. WINTON GROUP Ltd acquired a new position in PLAYSTUDIOS during the fourth quarter worth about $179,000. Arrowstreet Capital Limited Partnership raised its stake in PLAYSTUDIOS by 12.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 550,153 shares of the company’s stock worth $1,023,000 after acquiring an additional 62,075 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of PLAYSTUDIOS during the fourth quarter worth about $33,000. 37.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Macquarie reduced their target price on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Craig Hallum upgraded shares of PLAYSTUDIOS from a “hold” rating to a “buy” rating and upped their price target for the stock from $2.00 to $3.00 in a research report on Friday, May 23rd. Finally, Benchmark upgraded shares of PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 target price on the stock in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.80.

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.