PLAYSTUDIOS (NASDAQ:MYPS) Issues Earnings Results, Misses Expectations By $0.06 EPS

PLAYSTUDIOS (NASDAQ:MYPS) issued its earnings results on Monday. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06), FiscalAI reports. The company had revenue of $54.99 million during the quarter, compared to the consensus estimate of $57.05 million. PLAYSTUDIOS had a negative return on equity of 14.38% and a negative net margin of 15.79%.

PLAYSTUDIOS Price Performance

NASDAQ MYPS traded down $0.03 during trading hours on Wednesday, reaching $0.60. 18,885 shares of the company’s stock traded hands, compared to its average volume of 575,009. PLAYSTUDIOS has a 52-week low of $0.40 and a 52-week high of $1.08. The firm has a 50-day simple moving average of $0.62 and a 200 day simple moving average of $0.54. The firm has a market cap of $76.88 million, a PE ratio of -2.14 and a beta of 0.94.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MYPS shares. Weiss Ratings raised shares of PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Wall Street Zen raised PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.25.

Hedge Funds Weigh In On PLAYSTUDIOS

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Orion Porfolio Solutions LLC bought a new stake in shares of PLAYSTUDIOS in the 3rd quarter worth approximately $30,000. Franklin Resources Inc. bought a new position in PLAYSTUDIOS during the 3rd quarter valued at approximately $46,000. Verdad Advisers LP purchased a new position in PLAYSTUDIOS during the fourth quarter valued at $48,000. Deutsche Bank AG bought a new stake in PLAYSTUDIOS in 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 worth $65,000 after acquiring an additional 31,685 shares during 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.