Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Rises By 236.3%

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 493,460 shares, a growth of 236.3% from the June 30th total of 146,734 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 974,675 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On PLAYSTUDIOS

Institutional investors have recently made changes to their positions in the stock. Almitas Capital LLC lifted its position in shares of PLAYSTUDIOS by 334.5% in the fourth quarter. Almitas Capital LLC now owns 4,047,346 shares of the company’s stock valued at $2,637,000 after acquiring an additional 3,115,758 shares in the last quarter. Ameriprise Financial Inc. increased its position in PLAYSTUDIOS by 35.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock worth $4,378,000 after purchasing an additional 870,521 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in PLAYSTUDIOS during the 2nd quarter worth about $1,287,000. Mackenzie Financial Corp raised its stake in PLAYSTUDIOS by 4.5% in the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock valued at $565,000 after purchasing an additional 36,905 shares during the last quarter. Finally, Stoic Point Capital Management LLC acquired a new position in PLAYSTUDIOS in the 1st quarter valued at about $405,000. 37.52% of the stock is owned by institutional investors and hedge funds.

PLAYSTUDIOS Stock Down 6.6%

Shares of MYPS traded down $0.04 during mid-day trading on Friday, reaching $0.62. 321,815 shares of the company’s stock were exchanged, compared to its average volume of 1,208,092. The company has a 50-day simple moving average of $0.58 and a two-hundred day simple moving average of $0.54. PLAYSTUDIOS has a 52-week low of $0.40 and a 52-week high of $1.25. The company has a market cap of $79.04 million, a price-to-earnings ratio of -2.20 and a beta of 0.96.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). PLAYSTUDIOS had a negative return on equity of 14.38% and a negative net margin of 15.79%.The company had revenue of $58.41 million for the quarter, compared to analyst estimates of $52.69 million.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MYPS shares. Wall Street Zen raised shares of PLAYSTUDIOS from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.