Los Angeles Capital Management LLC Raises Stake in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Los Angeles Capital Management LLC lifted its position in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 157.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,764 shares of the company’s stock after purchasing an additional 100,166 shares during the period. Los Angeles Capital Management LLC’s holdings in PLAYSTUDIOS were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in PLAYSTUDIOS by 25.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,329,082 shares of the company’s stock worth $3,690,000 after buying an additional 266,313 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of PLAYSTUDIOS by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,734,979 shares of the company’s stock worth $4,823,000 after purchasing an additional 8,506 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in PLAYSTUDIOS by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock valued at $70,000 after purchasing an additional 4,546 shares during the period. Simplicity Wealth LLC purchased a new position in PLAYSTUDIOS in the 2nd quarter worth approximately $25,000. Finally, Williams & Novak LLC bought a new position in PLAYSTUDIOS in the 2nd quarter worth approximately $59,000. 37.52% of the stock is currently owned by institutional investors.

PLAYSTUDIOS Stock Up 0.6 %

Shares of NASDAQ:MYPS opened at $1.73 on Tuesday. The stock has a market capitalization of $215.66 million, a P/E ratio of -9.11 and a beta of 0.61. PLAYSTUDIOS, Inc. has a 52 week low of $1.20 and a 52 week high of $3.04. The firm has a fifty day simple moving average of $1.52 and a two-hundred day simple moving average of $1.84.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $71.23 million during the quarter, compared to analyst estimates of $69.62 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. During the same period in the previous year, the firm earned $0.02 earnings per share. On average, analysts expect that PLAYSTUDIOS, Inc. will post -0.16 earnings per share for the current year.

Insider Activity

In other news, CFO Scott Edward Peterson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total value of $37,500.00. Following the transaction, the chief financial officer now directly owns 583,998 shares in the company, valued at approximately $875,997. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 14.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Northland Securities reduced their price objective on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Craig Hallum downgraded shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.00 to $2.00 in a report on Tuesday, August 6th. Stifel Nicolaus cut their price objective on PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Benchmark lowered PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th.

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.