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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 582,200 shares, an increase of 14.7% from the January 15th total of 507,800 shares. Based on an average daily volume of 220,500 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.7% of the shares of the stock are sold short.

PLAYSTUDIOS Trading Down 1.7 %

Shares of MYPS stock traded down $0.03 on Friday, reaching $1.78. 74,879 shares of the company’s stock were exchanged, compared to its average volume of 147,227. The company’s fifty day simple moving average is $1.88 and its 200 day simple moving average is $1.69. PLAYSTUDIOS has a 52 week low of $1.20 and a 52 week high of $3.04. The stock has a market capitalization of $221.93 million, a PE ratio of -9.37, a P/E/G ratio of 17.70 and a beta of 0.80.

Insider Activity at PLAYSTUDIOS

In related news, CFO Scott Edward Peterson sold 25,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.74, for a total value of $43,500.00. Following the completion of the transaction, the chief financial officer now owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. This trade represents a 4.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.29% of the stock is currently owned by insiders.

Institutional Trading of PLAYSTUDIOS

A number of large investors have recently made changes to their positions in MYPS. Proficio Capital Partners LLC bought a new stake in PLAYSTUDIOS during the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC raised its stake in shares of PLAYSTUDIOS by 248.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company’s stock valued at $29,000 after acquiring an additional 11,237 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of PLAYSTUDIOS in the third quarter valued at approximately $32,000. O Shaughnessy Asset Management LLC bought a new position in PLAYSTUDIOS in the fourth quarter worth approximately $33,000. Finally, XTX Topco Ltd purchased a new position in PLAYSTUDIOS during the 4th quarter worth $34,000. 37.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MYPS has been the subject of several analyst reports. Macquarie lowered PLAYSTUDIOS from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, PLAYSTUDIOS has a consensus rating of “Hold” and an average price target of $3.63.

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.