Bank of America Corp DE Raises Holdings in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Bank of America Corp DE boosted its position in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 16.7% in the 4th quarter, Holdings Channel reports. The fund owned 216,685 shares of the company’s stock after purchasing an additional 31,003 shares during the period. Bank of America Corp DE’s holdings in PLAYSTUDIOS were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MYPS. Ameriprise Financial Inc. lifted its holdings in shares of PLAYSTUDIOS by 18.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock valued at $4,430,000 after acquiring an additional 368,879 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of PLAYSTUDIOS in the 4th quarter worth about $179,000. BNP Paribas Financial Markets bought a new stake in shares of PLAYSTUDIOS in the 4th quarter worth about $153,000. Arrowstreet Capital Limited Partnership grew its position in shares of PLAYSTUDIOS by 12.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 550,153 shares of the company’s stock valued at $1,023,000 after buying an additional 62,075 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new position in PLAYSTUDIOS during the 4th quarter valued at about $109,000. Institutional investors and hedge funds own 37.52% of the company’s stock.

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 shares were sold at an average price of $1.26, for a total value of $37,297.26. Following the completion of the sale, the chief financial officer now owns 504,397 shares in the company, valued at approximately $635,540.22. This trade represents a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 14.29% of the company’s stock.

PLAYSTUDIOS Stock Performance

NASDAQ:MYPS opened at $1.50 on Friday. The company has a 50-day moving average of $1.38 and a 200-day moving average of $1.60. The company has a market capitalization of $187.63 million, a price-to-earnings ratio of -7.89, a PEG ratio of 17.60 and a beta of 0.91. PLAYSTUDIOS, Inc. has a 52 week low of $1.14 and a 52 week high of $2.36.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its 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). The business had revenue of $62.71 million during the quarter, compared to analysts’ expectations of $64.45 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. Sell-side analysts forecast that PLAYSTUDIOS, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

MYPS has been the subject of several recent analyst reports. 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 report on Tuesday, May 6th. Macquarie dropped their price target on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Finally, Craig Hallum upgraded shares of PLAYSTUDIOS from a “hold” rating to a “buy” rating and raised their target price for the company from $2.00 to $3.00 in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2.80.

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.