PLAYSTUDIOS (NASDAQ:MYPS) Announces Earnings Results

PLAYSTUDIOS (NASDAQ:MYPS) announced its earnings results on Monday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05), Zacks reports. PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%.The business had revenue of $55.40 million for the quarter, compared to the consensus estimate of $56.23 million.

PLAYSTUDIOS Stock Down 2.0%

Shares of MYPS opened at $0.50 on Tuesday. The stock’s fifty day simple moving average is $0.55 and its 200-day simple moving average is $0.73. The firm has a market capitalization of $63.05 million, a PE 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MYPS. Benchmark reiterated a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.25.

Institutional Trading of PLAYSTUDIOS

Several institutional investors and hedge funds have recently added to or reduced their stakes in MYPS. Almitas Capital LLC lifted its position in PLAYSTUDIOS by 334.5% during the 4th quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock valued at $2,637,000 after purchasing an additional 3,115,758 shares during the period. Ameriprise Financial Inc. grew its position in shares of PLAYSTUDIOS by 35.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock worth $4,378,000 after buying an additional 870,521 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of PLAYSTUDIOS during the 2nd quarter worth approximately $1,287,000. Mackenzie Financial Corp raised its stake in shares of PLAYSTUDIOS by 4.5% during the fourth quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock worth $565,000 after buying an additional 36,905 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of PLAYSTUDIOS by 24.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 673,255 shares of the company’s stock worth $648,000 after buying an additional 132,412 shares during the last quarter. 37.52% of the stock is owned by institutional investors.

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.