FY2024 EPS Estimates for PLAYSTUDIOS Cut by Northland Capmk

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) – Stock analysts at Northland Capmk decreased their FY2024 earnings estimates for PLAYSTUDIOS in a research report issued to clients and investors on Tuesday, November 5th. Northland Capmk analyst G. Gibas now anticipates that the company will post earnings per share of ($0.16) for the year, down from their previous 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 equities research analysts have also recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Friday, October 18th. Northland Securities dropped their price objective on PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Craig Hallum cut PLAYSTUDIOS from a “buy” rating to a “hold” rating and decreased their target price for the stock from $4.00 to $2.00 in a research note on Tuesday, August 6th. Finally, Benchmark lowered PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th.

PLAYSTUDIOS Price Performance

NASDAQ:MYPS opened at $1.58 on Thursday. PLAYSTUDIOS has a fifty-two week low of $1.20 and a fifty-two week high of $3.04. The company has a 50 day simple moving average of $1.49 and a two-hundred day simple moving average of $1.88.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $71.23 million during the quarter, compared to analyst estimates of $69.62 million. PLAYSTUDIOS had a negative return on equity of 9.03% and a negative net margin of 8.75%. During the same period last year, the company earned $0.02 EPS.

Institutional Trading of PLAYSTUDIOS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its holdings in PLAYSTUDIOS by 29.0% during the first quarter. GSA Capital Partners LLP now owns 300,456 shares of the company’s stock worth $835,000 after buying an additional 67,602 shares in the last quarter. Acadian Asset Management LLC grew its position in PLAYSTUDIOS by 25.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,329,082 shares of the company’s stock worth $3,690,000 after purchasing an additional 266,313 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of PLAYSTUDIOS by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,734,979 shares of the company’s stock worth $4,823,000 after buying an additional 8,506 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of PLAYSTUDIOS by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock valued at $70,000 after acquiring an additional 4,546 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in PLAYSTUDIOS during the second quarter worth $25,000. 37.52% of the stock is owned by institutional investors.

Insider Buying and Selling

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

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.