Stoic Point Capital Management LLC Acquires New Stake in PLAYSTUDIOS, Inc. $MYPS

Stoic Point Capital Management LLC bought a new position in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 862,771 shares of the company’s stock, valued at approximately $405,000. Stoic Point Capital Management LLC owned approximately 0.67% of PLAYSTUDIOS at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Porfolio Solutions LLC bought a new position in PLAYSTUDIOS in the 3rd quarter worth about $30,000. Franklin Resources Inc. purchased a new position in PLAYSTUDIOS in the third quarter worth about $46,000. Verdad Advisers LP purchased a new stake in PLAYSTUDIOS during the 4th quarter valued at $48,000. Deutsche Bank AG bought a new stake in shares of PLAYSTUDIOS in the 4th quarter worth $61,000. Finally, Wells Fargo & Company MN raised its stake in shares of PLAYSTUDIOS by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock worth $65,000 after purchasing an additional 31,685 shares during the last quarter. 37.52% of the stock is currently owned by institutional investors.

PLAYSTUDIOS Stock Down 1.9%

Shares of NASDAQ:MYPS opened at $0.60 on Wednesday. The stock has a market capitalization of $76.69 million, a PE ratio of -2.13 and a beta of 0.96. The firm’s 50 day moving average price is $0.59 and its 200-day moving average price is $0.53. PLAYSTUDIOS, Inc. has a twelve month low of $0.40 and a twelve month high of $1.25.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, May 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). PLAYSTUDIOS had a negative net margin of 15.79% and a negative return on equity of 14.38%. The business had revenue of $58.41 million for the quarter, compared to the consensus estimate of $52.69 million.

Wall Street Analysts Forecast Growth

MYPS has been the topic of several recent analyst reports. Wall Street Zen raised PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PLAYSTUDIOS currently has an average rating of “Hold” and a consensus target price of $1.25.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.