Acadian Asset Management LLC Has $2.91 Million Holdings in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Acadian Asset Management LLC lifted its stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,408,991 shares of the company’s stock after purchasing an additional 79,909 shares during the period. Acadian Asset Management LLC owned approximately 1.05% of PLAYSTUDIOS worth $2,914,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in PLAYSTUDIOS during the 2nd quarter worth $132,000. Bank of New York Mellon Corp raised its position in shares of 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 acquiring an additional 27,784 shares during the last quarter. Williams & Novak LLC acquired a new position in shares of PLAYSTUDIOS during the second quarter valued at $59,000. Simplicity Wealth LLC bought a new position in PLAYSTUDIOS in the second quarter valued at about $25,000. Finally, Price T Rowe Associates Inc. MD increased its position in PLAYSTUDIOS by 22.1% in the first 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 period. 37.52% of the stock is owned by institutional investors.

PLAYSTUDIOS Price Performance

Shares of MYPS stock opened at $1.63 on Friday. The stock has a market cap of $203.20 million, a PE ratio of -12.54 and a beta of 0.59. The stock has a 50-day moving average of $1.78 and a 200-day moving average of $2.14. PLAYSTUDIOS, Inc. has a one year low of $1.43 and a one year high of $3.43.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its earnings results 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. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. The company had revenue of $72.59 million for the quarter, compared to analyst estimates of $73.49 million. During the same period last year, the business posted ($0.02) earnings per share. As a group, research analysts anticipate that PLAYSTUDIOS, Inc. will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MYPS has been the topic of a number of research reports. Northland Securities cut their target price on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Craig Hallum lowered shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and cut their price objective for the company from $4.00 to $2.00 in a report on Tuesday, August 6th. Finally, Benchmark lowered shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

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.