Northland Capmk Comments on PLAYSTUDIOS, Inc.'s FY2024 Earnings (NASDAQ:MYPS)

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) - Equities research analysts at Northland Capmk lifted their FY2024 earnings per share estimates for PLAYSTUDIOS in a research note issued to investors on Tuesday, May 7th. Northland Capmk analyst G. Gibas now forecasts that the company will post earnings of ($0.06) per share for the year, up from their previous estimate of ($0.09). The consensus estimate for PLAYSTUDIOS's current full-year earnings is $0.01 per share.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.12). The firm had revenue of $77.11 million during the quarter, compared to analysts' expectations of $75.95 million. PLAYSTUDIOS had a negative return on equity of 7.19% and a negative net margin of 6.24%.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price target on PLAYSTUDIOS from $6.00 to $4.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. Benchmark reaffirmed a "buy" rating and issued a $5.00 price target on shares of PLAYSTUDIOS in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, PLAYSTUDIOS presently has an average rating of "Hold" and an average target price of $4.67.

PLAYSTUDIOS Price Performance

MYPS stock traded down $0.01 during midday trading on Thursday, hitting $2.44. The stock had a trading volume of 159,578 shares, compared to its average volume of 327,318. The firm has a market cap of $332.35 million, a price-to-earnings ratio of -16.33, a price-to-earnings-growth ratio of 7.83 and a beta of 0.63. The business has a 50-day moving average of $2.43 and a two-hundred day moving average of $2.47. PLAYSTUDIOS has a 52-week low of $1.90 and a 52-week high of $5.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP lifted its holdings in shares of PLAYSTUDIOS by 29.0% during the first quarter. GSA Capital Partners LLP now owns 300,456 shares of the company's stock valued at $835,000 after purchasing an additional 67,602 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of PLAYSTUDIOS during the fourth quarter valued at $55,000. Public Employees Retirement System of Ohio bought a new position in shares of PLAYSTUDIOS during the fourth quarter valued at $67,000. Jump Financial LLC bought a new position in PLAYSTUDIOS in the fourth quarter valued at about $91,000. Finally, Victory Capital Management Inc. bought a new position in PLAYSTUDIOS in the fourth quarter valued at about $31,000. 37.52% of the stock is owned by institutional investors.

Insider Transactions at PLAYSTUDIOS

In other news, major shareholder Corp Microsoft sold 1,000,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $1.95, for a total value of $1,950,000.00. Following the sale, the insider now directly owns 11,677,398 shares of the company's stock, valued at $22,770,926.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 14.29% of the company's stock.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.