Connor Clark & Lunn Investment Management Ltd. Purchases 35,391 Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 707,626 shares of the company’s stock after acquiring an additional 35,391 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.57% of PLAYSTUDIOS worth $1,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC bought a new stake in PLAYSTUDIOS during the second quarter worth $25,000. Price T Rowe Associates Inc. MD increased its position in PLAYSTUDIOS by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock worth $70,000 after acquiring an additional 4,546 shares during the period. Williams & Novak LLC bought a new position in PLAYSTUDIOS during the second quarter worth about $59,000. SG Americas Securities LLC increased its position in PLAYSTUDIOS by 82.4% during the third quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock worth $46,000 after acquiring an additional 13,846 shares during the period. Finally, AQR Capital Management LLC bought a new position in PLAYSTUDIOS during the second quarter worth about $68,000. 37.52% of the stock is owned by institutional investors.

PLAYSTUDIOS Trading Up 0.5 %

MYPS opened at $1.85 on Thursday. The company’s 50 day moving average is $1.54 and its 200-day moving average is $1.82. PLAYSTUDIOS, Inc. has a 1-year low of $1.20 and a 1-year high of $3.04. The company has a market cap of $230.66 million, a P/E ratio of -9.79 and a beta of 0.61.

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

Insider Activity

In related news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the sale, the chief financial officer now directly owns 558,998 shares in the company, valued at $972,656.52. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on MYPS shares. Craig Hallum lowered shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and lowered their price target for the stock from $4.00 to $2.00 in a research report on Tuesday, August 6th. Benchmark downgraded shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. 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 note on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their price objective on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Friday, October 18th.

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.