PLAYSTUDIOS (NASDAQ:MYPS) Issues Quarterly Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) released its quarterly earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $58.41 million for the quarter, compared to the consensus estimate of $52.69 million.

PLAYSTUDIOS Price Performance

Shares of NASDAQ:MYPS traded up $0.05 during mid-day trading on Monday, hitting $0.51. The company had a trading volume of 820,243 shares, compared to its average volume of 357,175. The firm has a fifty day moving average price of $0.47 and a 200 day moving average price of $0.60. The company has a market capitalization of $65.79 million, a PE ratio of -2.33 and a beta of 0.82. PLAYSTUDIOS has a one year low of $0.40 and a one year high of $1.69.

Analyst Upgrades and Downgrades

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

Institutional Trading of PLAYSTUDIOS

Hedge funds have recently modified their holdings of the stock. Orion Porfolio Solutions LLC bought a new stake in shares of PLAYSTUDIOS in the 3rd quarter valued at $30,000. Franklin Resources Inc. bought a new stake in shares of PLAYSTUDIOS in the 3rd quarter valued at $46,000. Verdad Advisers LP bought a new stake in shares of PLAYSTUDIOS in the 4th quarter valued at $48,000. Deutsche Bank AG bought a new stake in shares of PLAYSTUDIOS in the 4th quarter valued at $61,000. Finally, Wells Fargo & Company MN increased its stake in shares of PLAYSTUDIOS by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after acquiring an additional 31,685 shares in the last quarter. Institutional investors own 37.52% of the company’s stock.

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.