PLAYSTUDIOS (NASDAQ:MYPS) Issues Quarterly Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) released its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $57.05 million.

PLAYSTUDIOS Price Performance

Shares of MYPS traded down $0.03 during midday trading on Tuesday, reaching $0.64. The stock had a trading volume of 109,531 shares, compared to its average volume of 575,434. The company’s fifty day simple moving average is $0.62 and its two-hundred day simple moving average is $0.54. The company has a market cap of $82.40 million, a price-to-earnings ratio of -2.31 and a beta of 0.94. PLAYSTUDIOS has a 1-year low of $0.40 and a 1-year high of $1.08.

Analyst Ratings Changes

Several research firms recently commented on MYPS. Wall Street Zen upgraded PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings upgraded PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. 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 company’s stock. Based on data from MarketBeat.com, PLAYSTUDIOS has an average rating of “Hold” and an average price target of $1.25.

Hedge Funds Weigh In On PLAYSTUDIOS

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC acquired a new position in PLAYSTUDIOS in the 3rd quarter valued at $30,000. Franklin Resources Inc. bought a new position in PLAYSTUDIOS in the third quarter worth about $46,000. Verdad Advisers LP acquired a new position in PLAYSTUDIOS during the 4th quarter valued at approximately $48,000. Deutsche Bank AG bought a new stake in PLAYSTUDIOS in the fourth quarter valued at $61,000. Finally, Wells Fargo & Company MN grew its position in shares of 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 acquiring an additional 31,685 shares during the last quarter. Hedge funds and other 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.