PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Update

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totalling 507,800 shares, a drop of 16.5% from the December 31st total of 608,400 shares. Based on an average trading volume of 233,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.6% of the company’s stock are short sold.

Insider Buying and Selling

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the sale, the chief financial officer now directly owns 558,998 shares in the company, valued at $972,656.52. The trade was a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in shares of PLAYSTUDIOS by 21.5% during the second quarter. Renaissance Technologies LLC now owns 360,000 shares of the company’s stock valued at $745,000 after buying an additional 63,800 shares during the last quarter. Sei Investments Co. boosted its stake in shares of PLAYSTUDIOS by 17.2% during the second quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock valued at $156,000 after purchasing an additional 11,057 shares during the period. AQR Capital Management LLC purchased a new stake in shares of PLAYSTUDIOS during the second quarter valued at $68,000. SG Americas Securities LLC lifted its stake in PLAYSTUDIOS by 82.4% in 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. Finally, Williams & Novak LLC lifted its stake in PLAYSTUDIOS by 25.2% in the third quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock worth $54,000 after acquiring an additional 7,180 shares during the period. Hedge funds and other institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Trading Down 5.7 %

PLAYSTUDIOS stock traded down $0.10 during mid-day trading on Monday, hitting $1.65. 186,151 shares of the company’s stock were exchanged, compared to its average volume of 175,321. The stock has a 50 day moving average of $1.91 and a two-hundred day moving average of $1.72. PLAYSTUDIOS has a 1-year low of $1.20 and a 1-year high of $3.04. The stock has a market cap of $205.72 million, a P/E ratio of -8.68, a P/E/G ratio of 17.50 and a beta of 0.80.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly 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. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. The firm had revenue of $71.23 million for the quarter, compared to analysts’ expectations of $69.62 million. During the same period in the previous year, the firm posted $0.02 EPS. As a group, research analysts predict that PLAYSTUDIOS will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus cut their target price on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, October 18th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Finally, Macquarie downgraded shares of PLAYSTUDIOS from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.63.

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.