PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Sees Significant Decrease in Short Interest

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

Insider Transactions at PLAYSTUDIOS

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the transaction, the chief financial officer now owns 558,998 shares in the company, valued at approximately $972,656.52. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 14.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in PLAYSTUDIOS by 932.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,321,015 shares of the company’s stock valued at $1,995,000 after buying an additional 1,193,071 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of PLAYSTUDIOS by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,211,020 shares of the company’s stock valued at $3,339,000 after acquiring an additional 215,347 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of PLAYSTUDIOS by 157.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 163,764 shares of the company’s stock valued at $247,000 after acquiring an additional 100,166 shares in the last quarter. Barclays PLC raised its holdings in shares of PLAYSTUDIOS by 55.9% during the 3rd quarter. Barclays PLC now owns 234,332 shares of the company’s stock valued at $354,000 after buying an additional 84,058 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of PLAYSTUDIOS by 21.5% during the 2nd 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 in the last quarter. Institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Price Performance

MYPS stock traded down $0.10 on Monday, reaching $1.65. 186,151 shares of the company were exchanged, compared to its average volume of 175,321. The firm has a market capitalization of $205.72 million, a PE ratio of -8.68, a PEG ratio of 17.50 and a beta of 0.80. The stock’s fifty day moving average price is $1.91 and its 200 day moving average price is $1.72. PLAYSTUDIOS has a 12 month low of $1.20 and a 12 month high of $3.04.

PLAYSTUDIOS (NASDAQ:MYPS) last released 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 for the quarter, compared to the consensus estimate of $69.62 million. During the same period in the prior year, the company posted $0.02 EPS. As a group, research analysts expect that PLAYSTUDIOS will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of PLAYSTUDIOS in a research report on Wednesday, December 18th. Macquarie lowered shares of PLAYSTUDIOS from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Stifel Nicolaus lowered 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, PLAYSTUDIOS has an average rating of “Hold” and an average 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.