PLAYSTUDIOS (NASDAQ:MYPS) Releases Earnings Results, Misses Expectations By $0.01 EPS

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 data on Monday. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports. PLAYSTUDIOS had a negative net margin of 11.30% and a negative return on equity of 5.83%. PLAYSTUDIOS updated its FY 2025 guidance to EPS.

PLAYSTUDIOS Stock Performance

Shares of PLAYSTUDIOS stock traded up $0.01 during trading on Monday, reaching $1.10. The company had a trading volume of 305,983 shares, compared to its average volume of 230,645. PLAYSTUDIOS has a fifty-two week low of $1.08 and a fifty-two week high of $2.29. The firm's fifty day moving average is $1.33 and its 200-day moving average is $1.43. The company has a market cap of $137.59 million, a price-to-earnings ratio of -4.58 and a beta of 0.89.

Analyst Upgrades and Downgrades

MYPS has been the subject of a number of recent research reports. Craig Hallum raised shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and raised their target price for the company from $2.00 to $3.00 in a report on Friday, May 23rd. Benchmark raised PLAYSTUDIOS from a "hold" rating to a "speculative buy" rating and set a $2.00 target price for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2.80.

Insider Activity at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $1.24, for a total transaction of $31,000.00. Following the sale, the chief financial officer owned 601,421 shares in the company, valued at approximately $745,762.04. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Agena sold 20,491 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $1.43, for a total transaction of $29,302.13. Following the transaction, the general counsel owned 300,201 shares of the company's stock, valued at $429,287.43. The trade was a 6.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,430 shares of company stock valued at $268,624. Insiders own 14.67% of the company's stock.

Institutional Investors Weigh In On PLAYSTUDIOS

An institutional investor recently raised its position in PLAYSTUDIOS stock. NewEdge Advisors LLC boosted its holdings in PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) by 5,260.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,015 shares of the company's stock after purchasing an additional 131,515 shares during the period. NewEdge Advisors LLC owned about 0.10% of PLAYSTUDIOS worth $170,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.

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