Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Rises By 19.6%

by · The Markets Daily

PLAYSTUDIOS, Inc. (NASDAQ:MYPS – Get Free Report) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 1,945,654 shares, a growth of 19.6% from the December 31st total of 1,626,253 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 221,041 shares, the days-to-cover ratio is currently 8.8 days. Based on an average daily volume of 221,041 shares, the days-to-cover ratio is currently 8.8 days. Approximately 1.8% of the company’s stock are short sold.

PLAYSTUDIOS Stock Performance

Shares of PLAYSTUDIOS stock traded down $0.01 on Wednesday, reaching $0.59. The company had a trading volume of 135,938 shares, compared to its average volume of 258,087. The firm has a market cap of $73.89 million, a PE ratio of -2.02 and a beta of 0.92. PLAYSTUDIOS has a 52-week low of $0.56 and a 52-week high of $1.90. The firm’s 50 day moving average price is $0.64 and its two-hundred day moving average price is $0.84.

PLAYSTUDIOS (NASDAQ:MYPS – Get Free Report) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%.The firm had revenue of $57.65 million for the quarter, compared to analysts’ expectations of $58.77 million. As a group, sell-side analysts predict that PLAYSTUDIOS will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MYPS. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th. Wall Street Zen downgraded shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Zacks Research lowered shares of PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Finally, Benchmark cut their price objective on PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.00.

View Our Latest Report on MYPS

Institutional Trading of PLAYSTUDIOS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in shares of PLAYSTUDIOS by 13.5% in the second quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock valued at $2,127,000 after acquiring an additional 194,204 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in PLAYSTUDIOS by 165.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 347,850 shares of the company’s stock worth $335,000 after acquiring an additional 216,829 shares during the period. Jane Street Group LLC purchased a new stake in shares of PLAYSTUDIOS in the first quarter valued at about $203,000. WINTON GROUP Ltd increased its stake in shares of PLAYSTUDIOS by 50.3% during the third quarter. WINTON GROUP Ltd now owns 206,700 shares of the company’s stock worth $199,000 after acquiring an additional 69,200 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in PLAYSTUDIOS by 5,260.6% in the 1st quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock valued at $170,000 after purchasing an additional 131,515 shares in the last quarter. Institutional investors and hedge funds own 37.52% of the company’s stock.

About PLAYSTUDIOS

(Get Free Report)

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.

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