Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Declines By 91.3%

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 146,734 shares, a drop of 91.3% from the June 15th total of 1,681,951 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 1,777,421 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On PLAYSTUDIOS

Institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its stake in shares of PLAYSTUDIOS by 5,260.6% in the 1st quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock valued at $170,000 after purchasing an additional 131,515 shares in the last quarter. Jane Street Group LLC purchased a new position in PLAYSTUDIOS during the first quarter worth approximately $203,000. JPMorgan Chase & Co. grew its holdings in PLAYSTUDIOS by 75.8% in the second quarter. JPMorgan Chase & Co. now owns 420,165 shares of the company’s stock valued at $550,000 after purchasing an additional 181,210 shares during the period. Ameriprise Financial Inc. grew its holdings in PLAYSTUDIOS by 35.2% in the second quarter. Ameriprise Financial Inc. now owns 3,342,348 shares of the company’s stock valued at $4,378,000 after purchasing an additional 870,521 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in PLAYSTUDIOS in the second quarter valued at approximately $1,287,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on MYPS. Craig Hallum reiterated a “buy” rating and set a $1.00 price target on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Wall Street Zen upgraded PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Wednesday, June 24th. Finally, Benchmark reissued a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.25.

PLAYSTUDIOS Stock Performance

NASDAQ MYPS traded up $0.05 during mid-day trading on Friday, reaching $0.75. 825,739 shares of the stock were exchanged, compared to its average volume of 615,600. The business’s 50 day moving average is $0.52 and its 200-day moving average is $0.53. PLAYSTUDIOS has a 1 year low of $0.40 and a 1 year high of $1.31. The company has a market capitalization of $96.79 million, a P/E ratio of -2.69 and a beta of 0.96.

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

About PLAYSTUDIOS

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.