Clearbridge Investments LLC Decreases Stock Position in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Clearbridge Investments LLC decreased its stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,542,890 shares of the company’s stock after selling 192,089 shares during the quarter. Clearbridge Investments LLC owned approximately 1.14% of PLAYSTUDIOS worth $3,194,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MYPS. Simplicity Wealth LLC purchased a new stake in shares of PLAYSTUDIOS during the second quarter worth approximately $25,000. Quadrature Capital Ltd acquired a new position in PLAYSTUDIOS during the 4th quarter worth approximately $55,000. Williams & Novak LLC purchased a new stake in shares of PLAYSTUDIOS in the 2nd quarter valued at approximately $59,000. AQR Capital Management LLC acquired a new stake in shares of PLAYSTUDIOS in the 2nd quarter valued at $68,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of PLAYSTUDIOS by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock worth $70,000 after purchasing an additional 4,546 shares during the last quarter. Institutional investors and hedge funds own 37.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MYPS. Northland Securities dropped their target price on PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Craig Hallum downgraded 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. Finally, Benchmark lowered PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th.

PLAYSTUDIOS Stock Performance

MYPS opened at $1.50 on Friday. The stock has a market capitalization of $202.21 million, a P/E ratio of -11.54 and a beta of 0.59. PLAYSTUDIOS, Inc. has a one year low of $1.43 and a one year high of $3.22. The business’s 50-day simple moving average is $1.61 and its 200-day simple moving average is $2.07.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. PLAYSTUDIOS had a negative return on equity of 7.25% and a negative net margin of 6.34%. The firm had revenue of $72.59 million for the quarter, compared to analysts’ expectations of $73.49 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. On average, equities research analysts forecast that PLAYSTUDIOS, Inc. will post -0.06 EPS for the current fiscal year.

PLAYSTUDIOS 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.