PLAYSTUDIOS (NASDAQ:MYPS) Announces Earnings Results

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

PLAYSTUDIOS Price Performance

Shares of NASDAQ:MYPS traded up $0.05 during midday trading on Monday, hitting $0.51. 820,243 shares of the company’s stock were exchanged, compared to its average volume of 357,175. PLAYSTUDIOS has a 12 month low of $0.40 and a 12 month high of $1.69. The company has a market cap of $65.79 million, a PE ratio of -2.33 and a beta of 0.82. The stock has a 50 day moving average price of $0.47 and a 200-day moving average price of $0.60.

Analyst Upgrades and Downgrades

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

Institutional Trading of PLAYSTUDIOS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Almitas Capital LLC lifted its holdings in shares of PLAYSTUDIOS by 334.5% in the fourth quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock valued at $2,637,000 after purchasing an additional 3,115,758 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of PLAYSTUDIOS by 35.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock worth $4,378,000 after acquiring an additional 870,521 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of PLAYSTUDIOS in the 2nd quarter worth $1,287,000. Mackenzie Financial Corp raised its holdings in shares of PLAYSTUDIOS by 4.5% in the fourth quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock valued at $565,000 after purchasing an additional 36,905 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of PLAYSTUDIOS by 24.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 673,255 shares of the company’s stock valued at $648,000 after purchasing an additional 132,412 shares during the last quarter. 37.52% of the stock is owned by institutional investors.

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.