PLAYSTUDIOS's (MYPS) "Sell (E+)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for PLAYSTUDIOS (NASDAQ:MYPS) in a recent report, indicating ongoing concerns about the company's performance.
• PLAYSTUDIOS reported Q2 earnings of ($0.02) EPS, falling short of expectations, with revenue of $59.34 million compared to $61.63 million anticipated by analysts.
• Institutional investors have been active in adjusting positions, with Bridgeway Capital Management increasing its stake by 29.2% during the second quarter, reflecting growing interest in the stock.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

PLAYSTUDIOS Stock Performance

Shares of MYPS stock traded up $0.01 during midday trading on Tuesday, hitting $0.96. 90,030 shares of the company were exchanged, compared to its average volume of 232,935. The firm has a market capitalization of $120.09 million, a P/E ratio of -3.99 and a beta of 0.88. The firm's 50 day moving average price is $0.98 and its two-hundred day moving average price is $1.21. PLAYSTUDIOS has a 52 week low of $0.90 and a 52 week high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $59.34 million for the quarter, compared to the consensus estimate of $61.63 million. PLAYSTUDIOS had a negative return on equity of 6.07% and a negative net margin of 12.00%. PLAYSTUDIOS has set its FY 2025 guidance at EPS. Analysts expect that PLAYSTUDIOS will post -0.17 EPS for the current year.

Hedge Funds Weigh In On PLAYSTUDIOS

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC increased its position in PLAYSTUDIOS by 29.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 396,400 shares of the company's stock worth $519,000 after purchasing an additional 89,700 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in PLAYSTUDIOS during the second quarter worth $1,287,000. Ameriprise Financial Inc. raised its holdings in PLAYSTUDIOS by 35.2% during the second 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 last quarter. Jane Street Group LLC raised its holdings in shares of PLAYSTUDIOS by 146.5% in the second quarter. Jane Street Group LLC now owns 394,720 shares of the company's stock valued at $517,000 after purchasing an additional 234,602 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in PLAYSTUDIOS during the second quarter worth about $49,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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