Oppenheimer Analysts Cut Earnings Estimates for PLAYSTUDIOS, Inc. (NASDAQ:MYPS)

PLAYSTUDIOS, Inc. (NASDAQ:MYPSGet Rating) – Oppenheimer decreased their FY2023 earnings per share estimates for PLAYSTUDIOS in a report released on Wednesday, May 4th. Oppenheimer analyst M. Yang now expects that the company will post earnings of $0.05 per share for the year, down from their previous estimate of $0.07. Oppenheimer currently has a “Outperform” rating and a $8.00 price target on the stock.

Separately, Zacks Investment Research cut PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.56.

NASDAQ MYPS opened at $4.77 on Monday. PLAYSTUDIOS has a twelve month low of $3.60 and a twelve month high of $10.08. The stock has a market capitalization of $602.95 million, a PE ratio of -25.11, a P/E/G ratio of 9.62 and a beta of -1.56. The stock has a 50-day simple moving average of $4.88 and a 200 day simple moving average of $4.56.

PLAYSTUDIOS (NASDAQ:MYPSGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). PLAYSTUDIOS had a negative return on equity of 7.48% and a negative net margin of 7.19%. The business had revenue of $71.93 million during the quarter, compared to analysts’ expectations of $69.89 million.

In related news, CEO Andrew S. Pascal bought 10,100 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was acquired at an average cost of $6.00 per share, with a total value of $60,600.00. Following the acquisition, the chief executive officer now owns 315,700 shares in the company, valued at approximately $1,894,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Pascal bought 30,700 shares of the company’s stock in a transaction dated Tuesday, March 8th. The stock was bought at an average cost of $4.01 per share, with a total value of $123,107.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 204,200 shares of company stock valued at $977,155.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of PLAYSTUDIOS by 291.6% in the 3rd quarter. Morgan Stanley now owns 6,070 shares of the company’s stock worth $28,000 after buying an additional 4,520 shares in the last quarter. Penserra Capital Management LLC grew its position in PLAYSTUDIOS by 57.2% during the 3rd quarter. Penserra Capital Management LLC now owns 8,390 shares of the company’s stock worth $38,000 after acquiring an additional 3,054 shares during the last quarter. Shay Capital LLC bought a new stake in PLAYSTUDIOS during the 4th quarter worth approximately $40,000. Citigroup Inc. grew its position in PLAYSTUDIOS by 247.0% during the 3rd quarter. Citigroup Inc. now owns 10,409 shares of the company’s stock worth $47,000 after acquiring an additional 7,409 shares during the last quarter. Finally, National Asset Management Inc. bought a new stake in PLAYSTUDIOS during the 3rd quarter worth approximately $48,000. 14.10% of the stock is owned by institutional investors and hedge funds.

About PLAYSTUDIOS (Get Rating)

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States, North America, and internationally. The company is headquartered in Las Vegas, Nevada.

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