PLAYSTUDIOS (NASDAQ:MYPS) Posts Earnings Results, Misses Expectations By $0.03 EPS

PLAYSTUDIOS (NASDAQ:MYPS) released 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. PLAYSTUDIOS had a negative net margin of 12.18% and a negative return on equity of 10.75%. The business had revenue of $58.41 million during the quarter, compared to analyst estimates of $52.69 million.

PLAYSTUDIOS Trading Up 10.6%

NASDAQ:MYPS opened at $0.51 on Tuesday. The stock has a market cap of $65.79 million, a P/E ratio of -2.33 and a beta of 0.82. The stock has a 50 day simple moving average of $0.47 and a 200 day simple moving average of $0.59. PLAYSTUDIOS has a 1-year low of $0.40 and a 1-year high of $1.69.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MYPS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Friday, March 27th. Craig Hallum reaffirmed a “buy” rating and issued a $1.00 price objective on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. Benchmark reaffirmed a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. Finally, Zacks Research raised PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.25.

Institutional Trading of PLAYSTUDIOS

Hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in PLAYSTUDIOS by 5,260.6% during the 1st quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock worth $170,000 after purchasing an additional 131,515 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in PLAYSTUDIOS by 50.3% during the 3rd quarter. WINTON GROUP Ltd now owns 206,700 shares of the company’s stock worth $199,000 after purchasing an additional 69,200 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in PLAYSTUDIOS during the 2nd quarter worth approximately $1,287,000. Arrowstreet Capital Limited Partnership lifted its holdings in PLAYSTUDIOS by 24.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 673,255 shares of the company’s stock worth $648,000 after purchasing an additional 132,412 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in PLAYSTUDIOS by 4.5% during the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock worth $565,000 after acquiring an additional 36,905 shares during the period. 37.52% of the stock is owned by institutional investors and hedge funds.

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.