PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Holdings Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 42.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,633 shares of the company’s stock after selling 15,420 shares during the period. The Manufacturers Life Insurance Company’s holdings in PLAYSTUDIOS were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Voya Investment Management LLC increased its position in PLAYSTUDIOS by 134.0% in the 4th quarter. Voya Investment Management LLC now owns 97,855 shares of the company’s stock worth $182,000 after purchasing an additional 56,028 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of PLAYSTUDIOS by 34.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company’s stock valued at $74,000 after buying an additional 10,130 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in PLAYSTUDIOS by 248.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company’s stock worth $29,000 after buying an additional 11,237 shares during the last quarter. MetLife Investment Management LLC bought a new position in PLAYSTUDIOS during the fourth quarter valued at approximately $109,000. Finally, XTX Topco Ltd bought a new position in PLAYSTUDIOS during the fourth quarter valued at approximately $34,000. 37.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 29,601 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.26, for a total transaction of $37,297.26. Following the completion of the transaction, the chief financial officer now owns 504,397 shares of the company’s stock, valued at approximately $635,540.22. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.29% of the company’s stock.

PLAYSTUDIOS Price Performance

MYPS stock opened at $1.50 on Tuesday. The stock has a market capitalization of $200.20 million, a price-to-earnings ratio of -7.89, a price-to-earnings-growth ratio of 17.60 and a beta of 0.89. The company has a 50-day moving average of $1.32 and a two-hundred day moving average of $1.63. PLAYSTUDIOS, Inc. has a 52-week low of $1.14 and a 52-week high of $2.46.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). PLAYSTUDIOS had a negative return on equity of 9.15% and a negative net margin of 8.75%. The company had revenue of $62.71 million for the quarter, compared to the consensus estimate of $64.45 million. Equities analysts expect that PLAYSTUDIOS, Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MYPS. Macquarie decreased their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Benchmark upgraded PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 price target for the company in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.60.

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.