PLAYSTUDIOS (NASDAQ:MYPS) Issues Quarterly Earnings Results

Key Points

• PLAYSTUDIOS reported an earnings per share (EPS) of ($0.02) for the quarter, missing expectations by $0.01. The company has a negative net margin of 11.30%.
• Despite earnings misses, analysts have upgraded the stock to a "Moderate Buy" rating, with a consensus target price of $2.80.
• Insider selling activity includes CFO Scott Edward Peterson selling 25,000 shares and General Counsel Joel Agena selling 20,491 shares, decreasing their holdings in the company.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01), Zacks reports. PLAYSTUDIOS had a negative return on equity of 6.04% and a negative net margin of 12.00%. The business had revenue of $59.34 million for the quarter, compared to analyst estimates of $61.63 million. PLAYSTUDIOS updated its FY 2025 guidance to EPS.

PLAYSTUDIOS Stock Performance

Shares of PLAYSTUDIOS stock traded down $0.01 during trading hours on Friday, reaching $1.07. The company's stock had a trading volume of 37,086 shares, compared to its average volume of 229,856. The stock's fifty day simple moving average is $1.30 and its two-hundred day simple moving average is $1.42. PLAYSTUDIOS has a one year low of $1.05 and a one year high of $2.29. The company has a market capitalization of $133.21 million, a P/E ratio of -4.44 and a beta of 0.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Craig Hallum upgraded shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and increased their target price for the stock from $2.00 to $3.00 in a research report on Friday, May 23rd. Benchmark upgraded shares of PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 price objective for the company in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $2.50.

Insider Buying and Selling

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $1.24, for a total value of $31,000.00. Following the completion of the sale, the chief financial officer owned 601,421 shares of the company's stock, valued at approximately $745,762.04. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Agena sold 20,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $1.27, for a total value of $25,400.00. Following the transaction, the general counsel owned 35,301 shares of the company's stock, valued at $44,832.27. This represents a 36.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,430 shares of company stock valued at $268,624 over the last ninety days. 14.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PLAYSTUDIOS stock. Jane Street Group LLC acquired a new stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 160,118 shares of the company's stock, valued at approximately $203,000. Jane Street Group LLC owned approximately 0.12% of PLAYSTUDIOS at the end of the most recent quarter. Hedge funds and other institutional investors own 37.52% of the company's stock.

PLAYSTUDIOS Company Profile

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.