PLAYSTUDIOS (NASDAQ:MYPS) Announces Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) announced its quarterly earnings data on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), FiscalAI reports. The firm had revenue of $58.41 million for the quarter, compared to analyst estimates of $52.69 million. PLAYSTUDIOS had a negative return on equity of 10.75% and a negative net margin of 12.18%.

PLAYSTUDIOS Price Performance

NASDAQ MYPS traded up $0.05 during trading hours on Monday, reaching $0.51. The company’s stock had a trading volume of 820,243 shares, compared to its average volume of 357,175. The firm has a fifty day simple moving average of $0.47 and a 200-day simple moving average of $0.60. The stock has a market cap of $65.79 million, a P/E ratio of -2.33 and a beta of 0.82. PLAYSTUDIOS has a 52 week low of $0.40 and a 52 week high of $1.69.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its holdings in PLAYSTUDIOS by 4.5% in the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock valued at $565,000 after buying an additional 36,905 shares during the last quarter. Verdad Advisers LP bought a new position in PLAYSTUDIOS in the 4th quarter valued at approximately $48,000. Almitas Capital LLC raised its holdings in PLAYSTUDIOS by 334.5% in the 4th quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock valued at $2,637,000 after buying an additional 3,115,758 shares during the last quarter. Wells Fargo & Company MN raised its holdings in PLAYSTUDIOS by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after buying an additional 31,685 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in PLAYSTUDIOS by 7.2% in the 4th quarter. Renaissance Technologies LLC now owns 596,170 shares of the company’s stock valued at $388,000 after buying an additional 40,200 shares during the last quarter. Institutional investors own 37.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MYPS. Craig Hallum restated a “buy” rating and issued a $1.00 price target on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Benchmark restated a “hold” rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Zacks Research upgraded shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PLAYSTUDIOS presently has an average rating of “Hold” and a consensus target price of $1.25.

About PLAYSTUDIOS

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.