PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Down 38.4% in July

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a significant 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 sold short. Based on an average trading volume of 313,667 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Marquette Asset Management LLC purchased a new position in shares of PLAYSTUDIOS in the 2nd quarter worth about $203,000. Stoic Point Capital Management LLC purchased a new stake in shares of PLAYSTUDIOS in the 1st quarter worth about $405,000. Mackenzie Financial Corp boosted its position in PLAYSTUDIOS by 4.5% during the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company’s stock valued at $565,000 after acquiring an additional 36,905 shares in the last quarter. Verdad Advisers LP purchased a new stake in PLAYSTUDIOS in the fourth quarter worth about $48,000. Finally, Almitas Capital LLC boosted its stake in PLAYSTUDIOS by 334.5% in the 4th 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. Hedge funds and other institutional investors own 37.52% of the company’s stock.

Wall Street Analyst Weigh In

MYPS has been the topic of a number of recent research reports. Weiss Ratings upgraded PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.25.

PLAYSTUDIOS Stock Up 1.0%

NASDAQ:MYPS traded up $0.01 on Wednesday, hitting $0.52. The stock had a trading volume of 79,720 shares, compared to its average volume of 569,098. The company has a market cap of $66.10 million, a PE ratio of -1.43 and a beta of 0.94. PLAYSTUDIOS has a 52 week low of $0.40 and a 52 week high of $1.08. The business’s fifty day moving average is $0.62 and its 200 day moving average is $0.53.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data 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 business had revenue of $54.99 million during the quarter, compared to the consensus estimate of $57.05 million.

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.