PLAYSTUDIOS (NASDAQ:MYPS) Issues Quarterly Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) announced its earnings results on Monday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07), FiscalAI reports. The business had revenue of $55.40 million for the quarter, compared to analyst estimates of $56.23 million. PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%.

PLAYSTUDIOS Trading Down 2.0%

NASDAQ MYPS traded down $0.01 on Monday, reaching $0.50. 96,942 shares of the company were exchanged, compared to its average volume of 288,507. The business’s fifty day moving average price is $0.55 and its 200 day moving average price is $0.73. The stock has a market capitalization of $63.05 million, a P/E ratio of -1.72 and a beta of 0.95. PLAYSTUDIOS has a fifty-two week low of $0.43 and a fifty-two week high of $1.69.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Orion Porfolio Solutions LLC acquired a new position in shares of PLAYSTUDIOS during the 3rd quarter valued at about $30,000. Franklin Resources Inc. purchased a new stake in shares of PLAYSTUDIOS in the third quarter valued at about $46,000. Verdad Advisers LP acquired a new stake in PLAYSTUDIOS during the fourth quarter worth about $48,000. Deutsche Bank AG acquired a new stake in PLAYSTUDIOS during the fourth quarter worth about $61,000. Finally, Wells Fargo & Company MN raised its stake in PLAYSTUDIOS by 46.2% during 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 period. Hedge funds and other institutional investors own 37.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MYPS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th. Zacks Research raised shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PLAYSTUDIOS currently has a consensus rating of “Hold” and a consensus price target of $2.25.

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.