PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Sees Large Drop in Short Interest

by · The Markets Daily

PLAYSTUDIOS, Inc. (NASDAQ:MYPS – Get Free Report) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 308,200 shares, a decrease of 38.8% from the September 15th total of 503,600 shares. Based on an average daily volume of 256,200 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of PLAYSTUDIOS in the 4th quarter valued at approximately $55,000. GSA Capital Partners LLP lifted its holdings in shares of PLAYSTUDIOS by 29.0% in the first quarter. GSA Capital Partners LLP now owns 300,456 shares of the company’s stock valued at $835,000 after purchasing an additional 67,602 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of PLAYSTUDIOS by 25.1% in the first quarter. Acadian Asset Management LLC now owns 1,329,082 shares of the company’s stock worth $3,690,000 after buying an additional 266,313 shares during the period. Clearbridge Investments LLC grew its holdings in shares of PLAYSTUDIOS by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,734,979 shares of the company’s stock valued at $4,823,000 after buying an additional 8,506 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in PLAYSTUDIOS by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,116 shares of the company’s stock valued at $70,000 after buying an additional 4,546 shares during the period. 37.52% of the stock is owned by institutional investors and hedge funds.

PLAYSTUDIOS Trading Down 0.7 %

Shares of NASDAQ MYPS traded down $0.01 during midday trading on Friday, reaching $1.49. The company’s stock had a trading volume of 196,060 shares, compared to its average volume of 278,399. PLAYSTUDIOS has a one year low of $1.43 and a one year high of $3.04. The company has a market cap of $185.74 million, a price-to-earnings ratio of -10.64 and a beta of 0.59. The company has a 50 day moving average price of $1.54 and a 200 day moving average price of $2.04.

PLAYSTUDIOS (NASDAQ:MYPS – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. PLAYSTUDIOS had a negative return on equity of 7.25% and a negative net margin of 6.34%. The company had revenue of $72.59 million for the quarter, compared to analysts’ expectations of $73.49 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Research analysts anticipate that PLAYSTUDIOS will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Northland Securities decreased their price objective on shares of PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Craig Hallum lowered PLAYSTUDIOS from a “buy” rating to a “hold” rating and decreased their price target for the company from $4.00 to $2.00 in a research note on Tuesday, August 6th. Finally, Benchmark downgraded PLAYSTUDIOS from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th.

Read Our Latest Research Report on MYPS

About PLAYSTUDIOS

(Get Free Report)

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.

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