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Joel Agena, General Counsel at PLAYSTUDIOS, Inc. (NASDAQ:MYPS), sold 40,000 shares of Class A Common Stock for a total of $51,400, according to a Form 4 filing with the Securities and Exchange Commission. The sales come as the stock has declined 11% over the past week, according to InvestingPro data.
The sales occurred in two transactions. On July 3, 2025, 20,000 shares were sold at a weighted average price of $1.30, with individual sales prices ranging from $1.28 to $1.33. On July 7, 2025, an additional 20,000 shares were sold at a weighted average price of $1.27, with prices ranging from $1.20 to $1.31. The company maintains strong financial health with a current ratio of 3.6x and holds more cash than debt on its balance sheet.
Following these transactions, Agena directly owns 35,301 shares of PLAYSTUDIOS, Inc. Class A Common Stock.
Agena also holds derivative securities including restricted stock units, performance stock units and stock options.
In other recent news, PlayStudios reported its first-quarter 2025 earnings, revealing a revenue of $63 million, which fell short of the expected $66.83 million and marked a 19% year-over-year decline. The company also posted an earnings per share (EPS) of -$0.02, missing the forecasted $0.01. Despite these challenges, PlayStudios’ Adjusted EBITDA reached $12.5 million, surpassing consensus expectations by 14%, as highlighted by Benchmark analysts. The company’s management has reaffirmed its financial guidance for 2025, excluding potential revenue from upcoming products like the sweepstakes platform and Tetris Block Party game.
Additionally, PlayStudios received an upgrade from Craig-Hallum analysts, who raised the stock rating from Hold to Buy, with a price target increase to $3.00. This upgrade was attributed to the company’s recent covert testing of its Sweepstakes casino, The Win Zone, and its proprietary playAWARDS program, which offers differentiation in VIP programs and loyalty incentives. Benchmark analysts also upgraded PlayStudios to a Speculative Buy, citing the company’s operational discipline and potential for margin leverage.
The company’s strategic initiatives include launching a new sweepstakes platform and a Tetris title later in 2025, with a focus on compliance and regulatory alignment. PlayStudios’ strong balance sheet, with $107 million in cash and no outstanding debt, supports its growth initiatives and strategic investments. Recent legal developments, such as a positive ruling from the Apple (NASDAQ:AAPL) v. Epic Games case, are seen as beneficial factors for the company, potentially enhancing its direct-to-consumer sales channel.
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