AQR Capital Management LLC Takes $68,000 Position in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

AQR Capital Management LLC acquired a new stake in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 32,716 shares of the company’s stock, valued at approximately $68,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rubric Capital Management LP increased its holdings in PLAYSTUDIOS by 14.5% during the second quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock worth $5,612,000 after buying an additional 342,413 shares during the last quarter. Clearbridge Investments LLC increased its holdings in 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 buying an additional 8,506 shares during the last quarter. Acadian Asset Management LLC boosted its position in PLAYSTUDIOS by 6.0% during the second quarter. Acadian Asset Management LLC now owns 1,408,991 shares of the company’s stock worth $2,914,000 after purchasing an additional 79,909 shares during the period. Bank of New York Mellon Corp boosted its position in PLAYSTUDIOS by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 494,667 shares of the company’s stock worth $1,024,000 after purchasing an additional 27,784 shares during the period. Finally, Renaissance Technologies LLC boosted its position in PLAYSTUDIOS by 21.5% during the second quarter. Renaissance Technologies LLC now owns 360,000 shares of the company’s stock worth $745,000 after purchasing an additional 63,800 shares during the period. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $1.50, for a total transaction of $37,500.00. Following the completion of the transaction, the chief financial officer now owns 583,998 shares of the company’s stock, valued at approximately $875,997. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.29% of the company’s stock.

PLAYSTUDIOS Stock Down 4.7 %

MYPS opened at $1.41 on Friday. PLAYSTUDIOS, Inc. has a twelve month low of $1.40 and a twelve month high of $3.04. The company has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $1.99. The stock has a market capitalization of $190.07 million, a price-to-earnings ratio of -10.85 and a beta of 0.59.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $72.59 million during the quarter, compared to analysts’ expectations of $73.49 million. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. During the same quarter in the prior year, the business posted ($0.02) earnings per share. Sell-side analysts anticipate that PLAYSTUDIOS, Inc. will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus reduced their price objective on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Friday. Craig Hallum cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and reduced their target price for the company from $4.00 to $2.00 in a research report on Tuesday, August 6th. Benchmark cut shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Northland Securities reduced their target price on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th.

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.