Connor Clark & Lunn Investment Management Ltd. Has $1.07 Million Stock Holdings in PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 707,626 shares of the company’s stock after purchasing an additional 35,391 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in PLAYSTUDIOS were worth $1,069,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MYPS. Rubric Capital Management LP raised its holdings in PLAYSTUDIOS by 14.5% during the 2nd quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock worth $5,612,000 after purchasing an additional 342,413 shares during the last quarter. American Century Companies Inc. raised its holdings 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 during the last quarter. Los Angeles Capital Management LLC raised its holdings in PLAYSTUDIOS by 157.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 163,764 shares of the company’s stock worth $247,000 after purchasing an additional 100,166 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of PLAYSTUDIOS by 6.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,408,991 shares of the company’s stock valued at $2,914,000 after acquiring an additional 79,909 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of 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 in the last quarter. Institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Trading Up 0.5 %

NASDAQ MYPS opened at $1.85 on Thursday. The company has a fifty day simple moving average of $1.54 and a 200 day simple moving average of $1.82. PLAYSTUDIOS, Inc. has a 12-month low of $1.20 and a 12-month high of $3.04. The company has a market cap of $230.66 million, a P/E ratio of -9.79 and a beta of 0.61.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $71.23 million for 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 period in the previous year, the firm earned $0.02 EPS. Sell-side analysts predict that PLAYSTUDIOS, Inc. will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

MYPS has been the subject of several research analyst reports. Northland Securities lowered their price objective on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus reduced their price target on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Friday, October 18th. Craig Hallum downgraded shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and reduced their price target for the company from $4.00 to $2.00 in a research report on Tuesday, August 6th. Finally, Benchmark downgraded shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th.

Insiders Place Their Bets

In related news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.74, for a total value of $43,500.00. Following the transaction, the chief financial officer now directly owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. The trade was a 4.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.29% of the company’s stock.

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.