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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 303,951 shares, a decline of 38.4% from the July 15th total of 493,460 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 313,667 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On PLAYSTUDIOS

Several large investors have recently made changes to their positions in MYPS. Orion Porfolio Solutions LLC bought a new position in PLAYSTUDIOS during the 3rd quarter valued at about $30,000. Franklin Resources Inc. acquired a new stake in shares of PLAYSTUDIOS during the third quarter worth approximately $46,000. Verdad Advisers LP acquired a new stake in shares of PLAYSTUDIOS during the fourth quarter worth approximately $48,000. Deutsche Bank AG bought a new position in shares of PLAYSTUDIOS in the fourth quarter valued at approximately $61,000. Finally, Wells Fargo & Company MN raised its stake in shares of PLAYSTUDIOS by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after acquiring an additional 31,685 shares during the last quarter. Institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Price Performance

PLAYSTUDIOS stock opened at $0.52 on Thursday. The company has a market capitalization of $66.84 million, a PE ratio of -1.45 and a beta of 0.94. PLAYSTUDIOS has a one year low of $0.40 and a one year high of $1.08. The business has a 50 day simple moving average of $0.62 and a 200 day simple moving average of $0.53.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.10) earnings per share 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 company had revenue of $54.99 million during the quarter, compared to the consensus estimate of $57.05 million.

Wall Street Analyst Weigh In

MYPS has been the subject of a number of analyst reports. Weiss Ratings raised shares of PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.