PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Sees Significant Decline in Short Interest

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 16,566 shares, a decline of 96.2% from the September 30th total of 440,325 shares. Based on an average daily volume of 56,922 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are sold short.

Institutional Trading of PLAYSTUDIOS

An institutional investor recently bought a new position in PLAYSTUDIOS stock. Marquette Asset Management LLC acquired a new stake in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 406,344 shares of the company’s stock, valued at approximately $203,000. Marquette Asset Management LLC owned 0.32% of PLAYSTUDIOS at the end of the most recent reporting period. 37.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MYPS has been the subject of several research analyst reports. Wall Street Zen raised shares of PLAYSTUDIOS to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings upgraded shares of PLAYSTUDIOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

PLAYSTUDIOS Stock Performance

Shares of NASDAQ:MYPS traded up $0.52 during trading on Monday, reaching $4.32. 314,952 shares of the stock were exchanged, compared to its average volume of 56,117. The firm’s 50-day moving average price is $4.66 and its 200 day moving average price is $5.24. The firm has a market cap of $51.88 million, a price-to-earnings ratio of -1.20 and a beta of 0.96. PLAYSTUDIOS has a 12-month low of $3.53 and a 12-month high of $9.66.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.27. PLAYSTUDIOS had a negative net margin of 20.65% and a negative return on equity of 19.61%. The firm had revenue of $54.99 million for the quarter, compared to analyst estimates of $57.05 million.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc is a developer and publisher of free-to-play casual and social casino-style mobile games. The company combines digital gaming with a loyalty-rewards model, allowing players to earn points through gameplay and redeem them for offers and experiences from hospitality, travel, entertainment and other consumer brands.

Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live. PLAYSTUDIOS distributes its games through major mobile and online platforms and serves players internationally, with its products available across multiple geographic markets.

The company was founded in 2011 by Andrew Pascal, who serves as chief executive officer.