Bank of America Corp DE Boosts Stake in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Bank of America Corp DE lifted its holdings in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,685 shares of the company’s stock after purchasing an additional 31,003 shares during the quarter. Bank of America Corp DE owned 0.17% of PLAYSTUDIOS worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MYPS. SG Americas Securities LLC increased its position in PLAYSTUDIOS by 26.7% during the fourth quarter. SG Americas Securities LLC now owns 38,828 shares of the company’s stock valued at $72,000 after acquiring an additional 8,179 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of PLAYSTUDIOS in the fourth quarter worth about $26,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of PLAYSTUDIOS by 0.9% in 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 during the period. WINTON GROUP Ltd purchased a new stake in shares of PLAYSTUDIOS in the fourth quarter worth about $179,000. Finally, Arrowstreet Capital Limited Partnership raised its position in PLAYSTUDIOS by 12.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 550,153 shares of the company’s stock valued at $1,023,000 after purchasing an additional 62,075 shares during the period. Hedge funds and other institutional investors own 37.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Benchmark upgraded PLAYSTUDIOS from a “hold” rating to a “speculative buy” rating and set a $2.00 price target on the stock in a report on Tuesday, May 6th. Craig Hallum upgraded PLAYSTUDIOS from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.00 to $3.00 in a report on Friday, May 23rd. Finally, Macquarie decreased their price objective on PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2.80.

Insider Buying and Selling at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 29,601 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.26, for a total transaction of $37,297.26. Following the transaction, the chief financial officer now owns 504,397 shares of the company’s stock, valued at approximately $635,540.22. This trade represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.29% of the stock is owned by corporate insiders.

PLAYSTUDIOS Stock Performance

NASDAQ MYPS opened at $1.50 on Friday. PLAYSTUDIOS, Inc. has a fifty-two week low of $1.14 and a fifty-two week high of $2.36. The firm has a market capitalization of $187.63 million, a P/E ratio of -7.89, a PEG ratio of 17.60 and a beta of 0.91. The stock has a 50-day simple moving average of $1.38 and a two-hundred day simple moving average of $1.60.

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

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.