PLAYSTUDIOS, Inc. (NASDAQ:MYPS) CFO Sells $37,297.26 in Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) 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 value 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. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock traded down $0.06 during trading on Tuesday, reaching $1.28. The company had a trading volume of 255,406 shares, compared to its average volume of 220,421. The firm has a market capitalization of $170.84 million, a PE ratio of -6.74, a price-to-earnings-growth ratio of 17.60 and a beta of 0.90. The firm's 50-day simple moving average is $1.51 and its 200 day simple moving average is $1.65. PLAYSTUDIOS, Inc. has a 1-year low of $1.14 and a 1-year high of $2.87.

Institutional Trading of PLAYSTUDIOS

Institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its holdings in PLAYSTUDIOS by 18.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company's stock worth $4,430,000 after buying an additional 368,879 shares during the last quarter. Geode Capital Management LLC raised its stake in PLAYSTUDIOS by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,226,873 shares of the company's stock valued at $4,143,000 after purchasing an additional 15,853 shares during the last quarter. State Street Corp raised its stake in PLAYSTUDIOS by 0.7% in the 3rd quarter. State Street Corp now owns 1,733,679 shares of the company's stock valued at $2,618,000 after purchasing an additional 12,472 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in PLAYSTUDIOS by 932.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company's stock valued at $1,995,000 after purchasing an additional 1,193,071 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in PLAYSTUDIOS by 6.1% during the 4th quarter. Northern Trust Corp now owns 786,880 shares of the company's stock worth $1,464,000 after purchasing an additional 44,983 shares during the last quarter. Hedge funds and other institutional investors own 37.52% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on MYPS shares. JPMorgan Chase & Co. restated an "underweight" rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Benchmark reaffirmed a "hold" rating on shares of PLAYSTUDIOS in a report on Tuesday, March 11th. Finally, Macquarie cut their price target on PLAYSTUDIOS from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company 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.