FY2024 EPS Estimates for PLAYSTUDIOS Cut by Northland Capmk

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) - Stock analysts at Northland Capmk reduced their FY2024 earnings estimates for PLAYSTUDIOS in a research report issued on Tuesday, November 5th. Northland Capmk analyst G. Gibas now forecasts that the company will post earnings of ($0.16) per share for the year, down from their prior estimate of ($0.12). The consensus estimate for PLAYSTUDIOS's current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for PLAYSTUDIOS's Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.05) EPS.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $71.23 million during the quarter, compared to the consensus estimate of $69.62 million. PLAYSTUDIOS had a negative net margin of 6.34% and a negative return on equity of 7.25%. During the same period in the previous year, the firm posted $0.02 earnings per share.

Other analysts also recently issued reports about the stock. Northland Securities decreased their price objective on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an "outperform" rating for the company in a report on Tuesday, August 6th. Craig Hallum downgraded shares of PLAYSTUDIOS from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $4.00 to $2.00 in a report on Tuesday, August 6th. Benchmark downgraded shares of PLAYSTUDIOS from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Finally, Stifel Nicolaus cut their target price on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a "buy" rating for the company in a research note on Friday, October 18th.

PLAYSTUDIOS Price Performance

MYPS stock remained flat at $1.58 during trading hours on Thursday. 241,161 shares of the company's stock traded hands, compared to its average volume of 271,096. The stock has a market cap of $196.96 million, a P/E ratio of -8.45 and a beta of 0.61. PLAYSTUDIOS has a 12 month low of $1.20 and a 12 month high of $3.04. The stock has a 50 day moving average of $1.49 and a 200 day moving average of $1.88.

Insider Transactions at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total value of $37,500.00. Following the sale, the chief financial officer now owns 583,998 shares of the company's stock, valued at approximately $875,997. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.29% of the stock is owned by insiders.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of hedge funds have recently added to or reduced their stakes in MYPS. Rubric Capital Management LP grew its holdings in PLAYSTUDIOS by 14.5% during the 2nd quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company's stock worth $5,612,000 after acquiring an additional 342,413 shares during the last quarter. Acadian Asset Management LLC grew its holdings in PLAYSTUDIOS by 25.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,329,082 shares of the company's stock worth $3,690,000 after acquiring an additional 266,313 shares during the last quarter. American Century Companies Inc. grew its holdings in PLAYSTUDIOS by 152.0% during the 2nd quarter. American Century Companies Inc. now owns 272,204 shares of the company's stock worth $563,000 after acquiring an additional 164,166 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of PLAYSTUDIOS by 157.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 163,764 shares of the company's stock valued at $247,000 after purchasing an additional 100,166 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of PLAYSTUDIOS by 29.0% in the 1st 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 during the last quarter. Institutional investors own 37.52% 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.