JPMorgan Chase & Co. Purchases 1,193,071 Shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

JPMorgan Chase & Co. increased its stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 932.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,321,015 shares of the company’s stock after purchasing an additional 1,193,071 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.06% of PLAYSTUDIOS worth $1,995,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MYPS. American Century Companies Inc. increased its position in PLAYSTUDIOS by 152.0% during the 2nd quarter. American Century Companies Inc. now owns 272,204 shares of the company’s stock worth $563,000 after purchasing an additional 164,166 shares in the last quarter. Renaissance Technologies LLC increased its position in PLAYSTUDIOS by 21.5% in the 2nd quarter. Renaissance Technologies LLC now owns 360,000 shares of the company’s stock valued at $745,000 after acquiring an additional 63,800 shares during the period. XTX Topco Ltd acquired a new stake in shares of PLAYSTUDIOS during the second quarter worth $89,000. Sei Investments Co. increased its position in shares of PLAYSTUDIOS by 17.2% during the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock worth $156,000 after buying an additional 11,057 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of PLAYSTUDIOS during the second quarter worth $68,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the sale, the chief financial officer now owns 558,998 shares in the company, valued at approximately $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 14.29% of the stock is currently owned by corporate insiders.

PLAYSTUDIOS Price Performance

Shares of MYPS stock opened at $1.82 on Thursday. The firm has a 50-day moving average of $1.90 and a 200-day moving average of $1.74. The company has a market cap of $226.92 million, a P/E ratio of -9.58, a P/E/G ratio of 2.62 and a beta of 0.81. PLAYSTUDIOS, Inc. has a one year low of $1.20 and a one year high of $3.04.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, November 4th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $71.23 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.02 earnings per share. As a group, research analysts expect that PLAYSTUDIOS, Inc. will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MYPS. JPMorgan Chase & Co. reissued an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Stifel Nicolaus dropped 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.63.

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.