PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Sees Large Increase in Short Interest

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 582,200 shares, an increase of 14.7% from the January 15th total of 507,800 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 220,500 shares, the short-interest ratio is presently 2.6 days.

PLAYSTUDIOS Stock Down 1.7 %

Shares of NASDAQ:MYPS traded down $0.03 during midday trading on Friday, reaching $1.78. The company’s stock had a trading volume of 74,879 shares, compared to its average volume of 147,227. The stock has a fifty day moving average of $1.88 and a 200 day moving average of $1.69. PLAYSTUDIOS has a twelve month low of $1.20 and a twelve month high of $3.04. The firm has a market capitalization of $221.93 million, a PE ratio of -9.37, a P/E/G ratio of 17.70 and a beta of 0.80.

Analyst Ratings Changes

MYPS has been the topic of several research analyst reports. Macquarie downgraded shares of PLAYSTUDIOS from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.63.

Insider Transactions at PLAYSTUDIOS

In other PLAYSTUDIOS 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 value of $43,500.00. Following the completion of the sale, the chief financial officer now owns 558,998 shares of the company’s stock, valued at approximately $972,656.52. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.29% of the company’s stock.

Institutional Investors Weigh In On PLAYSTUDIOS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYPS. Proficio Capital Partners LLC acquired a new position in shares of PLAYSTUDIOS in the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC lifted its holdings in PLAYSTUDIOS by 248.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company’s stock valued at $29,000 after acquiring an additional 11,237 shares during the period. Virtu Financial LLC purchased a new stake in PLAYSTUDIOS in the 3rd quarter worth approximately $32,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of PLAYSTUDIOS during the 4th quarter worth approximately $33,000. Finally, XTX Topco Ltd purchased a new position in shares of PLAYSTUDIOS during the 4th quarter valued at approximately $34,000. 37.52% of the stock is owned by institutional investors and hedge funds.

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.