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

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

Insider Activity at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.74, for a total transaction of $43,500.00. Following the sale, the chief financial officer now directly owns 558,998 shares of the company’s stock, valued at $972,656.52. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MYPS. Virtu Financial LLC bought a new stake in shares of PLAYSTUDIOS in the 3rd quarter valued at about $32,000. SG Americas Securities LLC increased 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 valued at $46,000 after purchasing an additional 13,846 shares in the last quarter. AQR Capital Management LLC acquired a new stake in PLAYSTUDIOS in the second quarter worth $68,000. Williams & Novak LLC grew its holdings in shares of PLAYSTUDIOS by 25.2% in the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company’s stock valued at $54,000 after buying an additional 7,180 shares during the period. Finally, Sei Investments Co. increased its position in shares of PLAYSTUDIOS by 17.2% in the 2nd quarter. Sei Investments Co. now owns 75,478 shares of the company’s stock valued at $156,000 after buying an additional 11,057 shares in the last quarter. Institutional investors own 37.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MYPS. Stifel Nicolaus dropped their target price on 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. reiterated an “underweight” rating on shares of PLAYSTUDIOS in a research report on Wednesday, December 18th. Finally, Macquarie cut PLAYSTUDIOS from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.63.

PLAYSTUDIOS Price Performance

Shares of NASDAQ:MYPS traded down $0.11 during midday trading on Friday, reaching $1.75. 120,058 shares of the company’s stock were exchanged, compared to its average volume of 164,221. PLAYSTUDIOS has a 12 month low of $1.20 and a 12 month high of $3.04. The company’s 50 day simple moving average is $1.91 and its two-hundred day simple moving average is $1.72.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its earnings results on Monday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $71.23 million during the quarter, compared to analysts’ expectations of $69.62 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. As a group, equities research analysts anticipate that PLAYSTUDIOS will post -0.17 earnings per share for the current fiscal year.

PLAYSTUDIOS Company Profile

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.