Joel Agena Sells 20,490 Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Stock

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) General Counsel Joel Agena sold 20,490 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $1.41, for a total value of $28,890.90. Following the transaction, the general counsel now directly owns 279,711 shares in the company, valued at $394,392.51. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, June 16th, Joel Agena sold 20,491 shares of PLAYSTUDIOS stock. The shares were sold at an average price of $1.43, for a total value of $29,302.13.

PLAYSTUDIOS Stock Up 2.1%

Shares of NASDAQ:MYPS opened at $1.43 on Friday. PLAYSTUDIOS, Inc. has a 52-week low of $1.14 and a 52-week high of $2.29. The stock has a market cap of $178.87 million, a price-to-earnings ratio of -5.96 and a beta of 0.91. The business has a 50-day moving average price of $1.39 and a 200-day moving average price of $1.58.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $62.71 million during the quarter, compared to analyst estimates of $64.45 million. As a group, equities analysts anticipate that PLAYSTUDIOS, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MYPS shares. Macquarie cut their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating on the stock in a report 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 company from $2.00 to $3.00 in a research note on Friday, May 23rd. Finally, Benchmark upgraded shares of PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 price objective for the company in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in PLAYSTUDIOS by 18.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock valued at $4,430,000 after purchasing an additional 368,879 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of PLAYSTUDIOS by 118.5% in 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 period. Nuveen LLC purchased a new stake in shares of PLAYSTUDIOS in the first quarter worth about $277,000. Strs Ohio purchased a new stake in shares of PLAYSTUDIOS in the first quarter worth about $209,000. Finally, Jane Street Group LLC acquired a new stake in PLAYSTUDIOS during the first quarter worth about $203,000. Hedge funds and other institutional investors own 37.52% of the company’s stock.

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.