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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 16,566 shares, a decrease of 96.2% from the September 30th total of 440,325 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 56,922 shares, the days-to-cover ratio is currently 0.3 days.

PLAYSTUDIOS Price Performance

MYPS traded up $0.31 on Tuesday, reaching $4.63. 44,547 shares of the company traded hands, compared to its average volume of 55,130. The stock’s 50 day moving average price is $4.66 and its 200-day moving average price is $5.24. PLAYSTUDIOS has a 52-week low of $3.53 and a 52-week high of $9.55. The company has a market cap of $55.64 million, a price-to-earnings ratio of -1.28 and a beta of 0.96.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.27. The firm had revenue of $54.99 million for the quarter, compared to analyst estimates of $57.05 million. PLAYSTUDIOS had a negative net margin of 20.65% and a negative return on equity of 19.61%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MYPS shares. Wall Street Zen upgraded shares of PLAYSTUDIOS to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings downgraded PLAYSTUDIOS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

Institutional Trading of PLAYSTUDIOS

An institutional investor recently bought a new position in PLAYSTUDIOS stock. Marquette Asset Management LLC bought a new stake in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 406,344 shares of the company’s stock, valued at approximately $203,000. Marquette Asset Management LLC owned approximately 0.32% of PLAYSTUDIOS at the end of the most recent reporting period. 37.52% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc is a developer and publisher of free-to-play casual and social casino-style mobile games. The company combines digital gaming with a loyalty-rewards model, allowing players to earn points through gameplay and redeem them for offers and experiences from hospitality, travel, entertainment and other consumer brands.

Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live. PLAYSTUDIOS distributes its games through major mobile and online platforms and serves players internationally, with its products available across multiple geographic markets.

The company was founded in 2011 by Andrew Pascal, who serves as chief executive officer.