PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Up 35.1% in March

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 3,041,144 shares, a growth of 35.1% from the March 15th total of 2,250,285 shares. Based on an average daily volume of 382,922 shares, the short-interest ratio is currently 7.9 days. Currently, 2.8% of the company’s shares are short sold.

PLAYSTUDIOS Stock Performance

Shares of NASDAQ:MYPS traded up $0.01 during trading on Thursday, hitting $0.47. The company’s stock had a trading volume of 116,769 shares, compared to its average volume of 345,394. The business has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $0.65. The company has a market capitalization of $60.24 million, a PE ratio of -2.14 and a beta of 0.95. PLAYSTUDIOS has a fifty-two week low of $0.41 and a fifty-two week high of $1.69.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The business had revenue of $55.40 million during the quarter, compared to analyst estimates of $56.23 million. PLAYSTUDIOS had a negative return on equity of 10.75% and a negative net margin of 12.18%. As a group, equities analysts expect that PLAYSTUDIOS will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PLAYSTUDIOS

Several institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp grew its stake in shares of PLAYSTUDIOS by 4.5% in the fourth quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock worth $565,000 after acquiring an additional 36,905 shares in the last quarter. Verdad Advisers LP acquired a new position in shares of PLAYSTUDIOS during the fourth quarter worth $48,000. Almitas Capital LLC grew its stake in shares of PLAYSTUDIOS by 334.5% during the fourth quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock worth $2,637,000 after purchasing an additional 3,115,758 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of PLAYSTUDIOS by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock worth $65,000 after purchasing an additional 31,685 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of PLAYSTUDIOS by 7.2% during the fourth quarter. Renaissance Technologies LLC now owns 596,170 shares of the company’s stock worth $388,000 after purchasing an additional 40,200 shares in the last quarter. Institutional investors and hedge funds own 37.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Craig Hallum reiterated a “buy” rating and issued a $1.00 target price on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Friday, March 27th. Benchmark reiterated a “hold” rating on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. Finally, Zacks Research upgraded shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $1.25.

PLAYSTUDIOS Company Profile

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.