Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Drops By 38.8%

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 308,200 shares, a decrease of 38.8% from the September 15th total of 503,600 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 256,200 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MYPS shares. Benchmark downgraded PLAYSTUDIOS from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Northland Securities dropped their price objective on PLAYSTUDIOS from $5.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Craig Hallum downgraded PLAYSTUDIOS from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.00 to $2.00 in a report on Tuesday, August 6th.

PLAYSTUDIOS Price Performance

Shares of NASDAQ MYPS opened at $1.50 on Friday. The stock has a market cap of $202.21 million, a PE ratio of -11.54 and a beta of 0.59. PLAYSTUDIOS has a 52-week low of $1.43 and a 52-week high of $3.11. The business has a 50-day moving average price of $1.56 and a 200 day moving average price of $2.04.

PLAYSTUDIOS (NASDAQ:MYPS) last announced its earnings results on Monday, August 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $72.59 million during the quarter, compared to analysts’ expectations of $73.49 million. PLAYSTUDIOS had a negative return on equity of 7.25% and a negative net margin of 6.34%. During the same period in the prior year, the firm earned ($0.02) EPS. Sell-side analysts anticipate that PLAYSTUDIOS will post -0.06 earnings per share for the current year.

Institutional Trading of PLAYSTUDIOS

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of PLAYSTUDIOS by 25.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,329,082 shares of the company’s stock valued at $3,690,000 after purchasing an additional 266,313 shares during the period. Rubric Capital Management LP lifted its position in PLAYSTUDIOS by 14.5% during the 2nd quarter. Rubric Capital Management LP now owns 2,711,190 shares of the company’s stock worth $5,612,000 after acquiring an additional 342,413 shares during the period. Quadrature Capital Ltd acquired a new stake in PLAYSTUDIOS during the 4th quarter worth approximately $55,000. GSA Capital Partners LLP lifted its position in PLAYSTUDIOS by 29.0% during the 1st quarter. GSA Capital Partners LLP now owns 300,456 shares of the company’s stock worth $835,000 after acquiring an additional 67,602 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in PLAYSTUDIOS by 6.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 494,667 shares of the company’s stock worth $1,024,000 after acquiring an additional 27,784 shares during the period. 37.52% of the stock is owned by institutional investors and hedge funds.

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.