PLAYSTUDIOS (NASDAQ:MYPS) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

PLAYSTUDIOS (NASDAQ:MYPS) announced its quarterly earnings results on Monday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07), FiscalAI reports. The firm 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 Stock Down 2.0%

MYPS stock traded down $0.01 during mid-day trading on Monday, hitting $0.50. 96,942 shares of the company were exchanged, compared to its average volume of 288,507. The business has a fifty day simple moving average of $0.55 and a 200-day simple moving average of $0.73. The firm has a market capitalization of $63.05 million, a P/E ratio of -1.72 and a beta of 0.95. PLAYSTUDIOS has a 12-month low of $0.43 and a 12-month high of $1.69.

Institutional Trading of PLAYSTUDIOS

Institutional investors have recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC acquired a new stake in PLAYSTUDIOS in the 3rd quarter valued at approximately $30,000. Franklin Resources Inc. acquired a new position in PLAYSTUDIOS during the third quarter worth $46,000. Verdad Advisers LP purchased a new position in shares of PLAYSTUDIOS during the fourth quarter worth $48,000. Deutsche Bank AG purchased a new position in shares of PLAYSTUDIOS during the fourth quarter worth $61,000. Finally, Wells Fargo & Company MN grew its stake in shares of PLAYSTUDIOS by 46.2% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 37.52% of the company’s stock.

Wall Street Analysts Forecast Growth

MYPS has been the topic of a number of recent analyst reports. Zacks Research upgraded PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.25.

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.