PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Down 23.0% in February

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 1,974,368 shares, a decline of 23.0% from the February 12th total of 2,563,096 shares. Based on an average daily trading volume, of 245,221 shares, the short-interest ratio is presently 8.1 days. Approximately 1.8% of the company’s shares are short sold. Approximately 1.8% of the company’s shares are short sold. Based on an average daily trading volume, of 245,221 shares, the short-interest ratio is presently 8.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Almitas Capital LLC boosted 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 worth $2,637,000 after buying an additional 3,115,758 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of PLAYSTUDIOS during the 2nd quarter valued at about $1,287,000. Ameriprise Financial Inc. lifted 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 acquiring an additional 870,521 shares in the last quarter. Mackenzie Financial Corp lifted its position in PLAYSTUDIOS by 46.3% during the 3rd quarter. Mackenzie Financial Corp now owns 826,631 shares of the company’s stock worth $796,000 after acquiring an additional 261,518 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in PLAYSTUDIOS by 146.5% in the 2nd quarter. Jane Street Group LLC now owns 394,720 shares of the company’s stock worth $517,000 after acquiring an additional 234,602 shares during the period. Institutional investors and hedge funds own 37.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MYPS shares. Wall Street Zen cut PLAYSTUDIOS from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Zacks Research upgraded PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.25.

PLAYSTUDIOS Stock Down 1.3%

Shares of MYPS stock traded down $0.01 during mid-day trading on Friday, reaching $0.51. The company’s stock had a trading volume of 280,208 shares, compared to its average volume of 258,962. The firm has a market capitalization of $64.31 million, a PE ratio of -1.76 and a beta of 0.95. The company’s 50 day simple moving average is $0.55 and its 200-day simple moving average is $0.73. PLAYSTUDIOS has a 12-month low of $0.43 and a 12-month high of $1.69.

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.