PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Down 16.5% in January

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 507,800 shares, a decrease of 16.5% from the December 31st total of 608,400 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 233,000 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

MYPS has been the topic of several recent research reports. JPMorgan Chase & Co. restated an "underweight" rating on shares of PLAYSTUDIOS in a report on Wednesday, December 18th. Macquarie cut PLAYSTUDIOS from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of PLAYSTUDIOS from $4.00 to $3.50 and set a "buy" rating for the company in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, PLAYSTUDIOS has an average rating of "Hold" and a consensus target price of $3.63.

PLAYSTUDIOS Stock Up 2.6 %

PLAYSTUDIOS stock traded up $0.05 during midday trading on Wednesday, hitting $1.78. 35,569 shares of the stock were exchanged, compared to its average volume of 166,532. The company has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $1.72. The stock has a market capitalization of $221.31 million, a PE ratio of -9.34, a P/E/G ratio of 17.50 and a beta of 0.80. PLAYSTUDIOS has a 52 week low of $1.20 and a 52 week high of $3.04.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $71.23 million during the quarter, compared to analyst estimates of $69.62 million. PLAYSTUDIOS had a negative net margin of 8.75% and a negative return on equity of 9.15%. During the same period in the prior year, the business earned $0.02 EPS. As a group, equities research analysts anticipate that PLAYSTUDIOS will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $1.74, for a total transaction of $43,500.00. Following the completion of the sale, the chief financial officer now directly owns 558,998 shares of the company's stock, valued at $972,656.52. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Williams & Novak LLC lifted its holdings in PLAYSTUDIOS by 25.2% during the 3rd quarter. Williams & Novak LLC now owns 35,700 shares of the company's stock worth $54,000 after purchasing an additional 7,180 shares during the last quarter. SG Americas Securities LLC grew its position in PLAYSTUDIOS by 26.7% during the 4th quarter. SG Americas Securities LLC now owns 38,828 shares of the company's stock worth $72,000 after acquiring an additional 8,179 shares during the last quarter. Sei Investments Co. grew its position in shares of PLAYSTUDIOS by 17.2% in the 2nd quarter. Sei Investments Co. now owns 75,478 shares of the company's stock valued at $156,000 after buying an additional 11,057 shares during the last quarter. State Street Corp grew its position in shares of PLAYSTUDIOS by 0.7% in the 3rd quarter. State Street Corp now owns 1,733,679 shares of the company's stock valued at $2,618,000 after buying an additional 12,472 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of PLAYSTUDIOS in the 4th quarter valued at about $26,000. 37.52% of the stock is currently owned by institutional investors.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.