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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 499,300 shares, an increase of 32.7% from the July 31st total of 376,200 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 317,000 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 317,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded shares of PLAYSTUDIOS from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.00 to $3.00 in a research note on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.50.

PLAYSTUDIOS Stock Performance

Shares of PLAYSTUDIOS stock opened at $0.95 on Thursday. The company has a market cap of $119.70 million, a P/E ratio of -3.98 and a beta of 0.88. The firm has a 50-day simple moving average of $1.10 and a two-hundred day simple moving average of $1.28. PLAYSTUDIOS has a fifty-two week low of $0.90 and a fifty-two week high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). PLAYSTUDIOS had a negative net margin of 12.00% and a negative return on equity of 6.07%. The business had revenue of $59.34 million during the quarter, compared to analyst estimates of $61.63 million. PLAYSTUDIOS has set its FY 2025 guidance at EPS. Equities research analysts forecast that PLAYSTUDIOS will post -0.17 EPS for the current year.

Insider Buying and Selling at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $1.24, for a total transaction of $31,000.00. Following the completion of the sale, the chief financial officer directly owned 601,421 shares in the company, valued at approximately $745,762.04. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Joel Agena sold 20,491 shares of PLAYSTUDIOS stock in a transaction on Monday, June 16th. The stock was sold at an average price of $1.43, for a total transaction of $29,302.13. Following the sale, the general counsel owned 300,201 shares of the company’s stock, valued at $429,287.43. The trade was a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,430 shares of company stock worth $268,624 over the last ninety days. Corporate insiders own 14.67% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in PLAYSTUDIOS by 18.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company’s stock worth $4,430,000 after acquiring an additional 368,879 shares in the last quarter. Bank of America Corp DE raised its stake in PLAYSTUDIOS by 16.7% during the 4th quarter. Bank of America Corp DE now owns 216,685 shares of the company’s stock worth $403,000 after acquiring an additional 31,003 shares in the last quarter. Mackenzie Financial Corp raised its stake in PLAYSTUDIOS by 118.5% during the 1st quarter. Mackenzie Financial Corp now owns 575,737 shares of the company’s stock worth $731,000 after acquiring an additional 312,286 shares in the last quarter. Two Sigma Advisers LP raised its stake in PLAYSTUDIOS by 19.5% during the 4th quarter. Two Sigma Advisers LP now owns 222,900 shares of the company’s stock worth $415,000 after acquiring an additional 36,400 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in PLAYSTUDIOS by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 51,671 shares of the company’s stock worth $96,000 after acquiring an additional 11,254 shares in the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

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.