PLAYSTUDIOS (NASDAQ:MYPS) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

PLAYSTUDIOS (NASDAQ:MYPS) released its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06), FiscalAI reports. PLAYSTUDIOS had a negative net margin of 15.79% and a negative return on equity of 14.38%. The business had revenue of $54.99 million during the quarter, compared to analyst estimates of $57.05 million.

PLAYSTUDIOS Stock Down 5.7%

Shares of NASDAQ MYPS traded down $0.04 during trading on Tuesday, reaching $0.63. The company had a trading volume of 310,731 shares, compared to its average volume of 575,435. The stock has a market cap of $81.12 million, a P/E ratio of -2.28 and a beta of 0.94. The company’s fifty day moving average price is $0.62 and its 200-day moving average price is $0.54. PLAYSTUDIOS has a 12 month low of $0.40 and a 12 month high of $1.08.

Institutional Investors Weigh In On PLAYSTUDIOS

Several large investors have recently modified their holdings of MYPS. Orion Porfolio Solutions LLC acquired a new position in PLAYSTUDIOS in the third quarter valued at $30,000. Wells Fargo & Company MN boosted its position in shares of PLAYSTUDIOS by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after purchasing an additional 31,685 shares in the last quarter. Mackenzie Financial Corp grew its stake in PLAYSTUDIOS by 4.5% during the fourth quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock worth $565,000 after purchasing an additional 36,905 shares during the period. Renaissance Technologies LLC increased its holdings in PLAYSTUDIOS by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 596,170 shares of the company’s stock worth $388,000 after purchasing an additional 40,200 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of PLAYSTUDIOS during the 3rd quarter worth approximately $46,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on MYPS. Weiss Ratings upgraded PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One equities 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.com, PLAYSTUDIOS presently has a consensus 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.