PLAYSTUDIOS FY2024 EPS Estimate Decreased by Northland Capmk

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) – Stock analysts at Northland Capmk decreased their FY2024 earnings per share estimates for PLAYSTUDIOS in a research note issued on Tuesday, November 5th. Northland Capmk analyst G. Gibas now expects 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.

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

PLAYSTUDIOS Price Performance

Shares of MYPS stock opened at $1.58 on Thursday. The business has a fifty day moving average of $1.49 and a 200 day moving average of $1.88. PLAYSTUDIOS has a 1 year low of $1.20 and a 1 year high of $3.04. The firm has a market capitalization of $196.96 million, a price-to-earnings ratio of -11.28 and a beta of 0.61.

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

Hedge Funds Weigh In On PLAYSTUDIOS

A number of hedge funds have recently bought and sold shares of MYPS. Los Angeles Capital Management LLC raised its stake in shares of PLAYSTUDIOS by 157.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 163,764 shares of the company’s stock worth $247,000 after buying an additional 100,166 shares during the period. Williams & Novak LLC increased its holdings in PLAYSTUDIOS by 25.2% in the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock worth $54,000 after acquiring an additional 7,180 shares in the last quarter. SG Americas Securities LLC raised its position in PLAYSTUDIOS by 82.4% during the third quarter. SG Americas Securities LLC now owns 30,649 shares of the company’s stock worth $46,000 after acquiring an additional 13,846 shares during the period. AQR Capital Management LLC purchased a new position in PLAYSTUDIOS during the second quarter valued at $68,000. Finally, Rubric Capital Management LP grew its position in shares of PLAYSTUDIOS by 14.5% in the second quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock valued at $5,612,000 after purchasing an additional 342,413 shares during the period. Hedge funds and other institutional investors own 37.52% of the company’s stock.

Insider Activity

In related news, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $1.50, for a total transaction of $37,500.00. Following the sale, the chief financial officer now directly owns 583,998 shares of the company’s stock, valued at approximately $875,997. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a 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.