Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Decreases By 38.4%

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 303,951 shares, a drop of 38.4% from the July 15th total of 493,460 shares. Based on an average daily volume of 313,667 shares, the short-interest ratio is presently 1.0 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On PLAYSTUDIOS

Several institutional investors have recently modified their holdings of the stock. Almitas Capital LLC raised its holdings in PLAYSTUDIOS by 334.5% during the 4th quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock valued at $2,637,000 after buying an additional 3,115,758 shares during the period. Balyasny Asset Management L.P. bought a new position in PLAYSTUDIOS during the second quarter valued at $1,287,000. Ameriprise Financial Inc. raised its stake in shares of PLAYSTUDIOS by 35.2% in the second quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after acquiring an additional 870,521 shares during the period. Stoic Point Capital Management LLC purchased a new stake in shares of PLAYSTUDIOS in the first quarter valued at $405,000. Finally, Marquette Asset Management LLC bought a new stake in shares of PLAYSTUDIOS in the 2nd quarter worth about $203,000. 37.52% of the stock is owned by institutional investors.

PLAYSTUDIOS Trading Down 1.5%

MYPS traded down $0.01 during trading hours on Tuesday, hitting $0.51. The company’s stock had a trading volume of 298,516 shares, compared to its average volume of 572,092. The business’s 50-day moving average price is $0.62 and its 200-day moving average price is $0.53. PLAYSTUDIOS has a 12 month low of $0.40 and a 12 month high of $1.08. The stock has a market cap of $65.20 million, a price-to-earnings ratio of -1.43 and a beta of 0.94.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). PLAYSTUDIOS had a negative net margin of 20.65% and a negative return on equity of 19.61%. The business had revenue of $54.99 million during the quarter, compared to the consensus estimate of $57.05 million.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MYPS. Weiss Ratings upgraded PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of PLAYSTUDIOS from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell 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 $1.25.

About PLAYSTUDIOS

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.