Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Declines By 23.0%

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a large decline in short interest in February. As of February 27th, there was short interest totaling 1,974,368 shares, a decline of 23.0% from the February 12th total of 2,563,096 shares. Based on an average daily trading volume, of 245,221 shares, the short-interest ratio is presently 8.1 days. Approximately 1.8% of the shares of the stock are sold short. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 245,221 shares, the short-interest ratio is presently 8.1 days.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MYPS. Zacks Research raised PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PLAYSTUDIOS currently has a consensus rating of “Hold” and an average price target of $2.25.

Institutional Investors Weigh In On PLAYSTUDIOS

Several hedge funds have recently bought and sold shares of MYPS. NewEdge Advisors LLC boosted its position in PLAYSTUDIOS by 5,260.6% during the 1st quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock worth $170,000 after acquiring an additional 131,515 shares during the period. Jane Street Group LLC purchased a new stake in shares of PLAYSTUDIOS in the first quarter worth approximately $203,000. Los Angeles Capital Management LLC lifted its position in shares of PLAYSTUDIOS by 16.5% in the second quarter. Los Angeles Capital Management LLC now owns 174,479 shares of the company’s stock worth $229,000 after purchasing an additional 24,715 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of PLAYSTUDIOS by 13.5% during the second quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock worth $2,127,000 after purchasing an additional 194,204 shares during the period. Finally, JPMorgan Chase & Co. grew its position in PLAYSTUDIOS by 75.8% during the second quarter. JPMorgan Chase & Co. now owns 420,165 shares of the company’s stock valued at $550,000 after purchasing an additional 181,210 shares in the last quarter. 37.52% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Trading Down 2.0%

Shares of NASDAQ:MYPS traded down $0.01 during midday trading on Monday, reaching $0.50. The company had a trading volume of 96,941 shares, compared to its average volume of 258,962. The company has a fifty day simple moving average of $0.55 and a two-hundred day simple moving average of $0.73. PLAYSTUDIOS has a 1-year low of $0.43 and a 1-year high of $1.69.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $55.40 million for the quarter, compared to analyst estimates of $56.23 million. PLAYSTUDIOS had a negative net margin of 15.10% and a negative return on equity of 8.71%. Sell-side analysts forecast that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

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.