PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Up 35.1% in March

Key Points

• Short interest up 35.1% — short interest rose to 3,041,144 shares as of March 31 (about 2.8% of shares) with a days-to-cover ratio of 7.9.
• Analyst consensus: Hold — one Buy, two Hold and one Sell give a MarketBeat consensus rating of "Hold" and a $1.25 consensus price target.
• Weak recent results and low market value — MYPS traded at $0.47 with a $60.24M market cap, reported a ($0.09) EPS that missed estimates, and has negative margins (net margin -12.18%).

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 3,041,144 shares, a growth of 35.1% from the March 15th total of 2,250,285 shares. Based on an average daily volume of 382,922 shares, the days-to-cover ratio is currently 7.9 days. Approximately 2.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MYPS. Zacks Research raised shares of PLAYSTUDIOS from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 10th. Weiss Ratings reissued a "sell (e+)" rating on shares of PLAYSTUDIOS in a research note on Friday, March 27th. Benchmark reissued a "hold" rating on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. Finally, Craig Hallum reissued a "buy" rating and issued a $1.00 target price on shares of PLAYSTUDIOS in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $1.25.

PLAYSTUDIOS Price Performance

Shares of MYPS stock traded up $0.01 during trading on Thursday, hitting $0.47. 116,769 shares of the stock traded hands, compared to its average volume of 345,394. The firm has a market capitalization of $60.24 million, a P/E ratio of -2.14 and a beta of 0.95. The firm's fifty day moving average price is $0.48 and its 200-day moving average price is $0.65. PLAYSTUDIOS has a 52-week low of $0.41 and a 52-week high of $1.69.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $55.40 million for the quarter, compared to analysts' expectations of $56.23 million. PLAYSTUDIOS had a negative net margin of 12.18% and a negative return on equity of 10.75%. As a group, equities research analysts expect that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Institutional Trading of PLAYSTUDIOS

Several institutional investors have recently made changes to their positions in the company. Almitas Capital LLC raised its position in shares of PLAYSTUDIOS by 334.5% during the 4th quarter. Almitas Capital LLC now owns 4,047,346 shares of the company's stock valued at $2,637,000 after buying an additional 3,115,758 shares during the period. Ameriprise Financial Inc. increased its holdings in PLAYSTUDIOS by 35.2% in the 2nd 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 last quarter. Balyasny Asset Management L.P. acquired a new stake in PLAYSTUDIOS in the 2nd quarter valued at approximately $1,287,000. Mackenzie Financial Corp increased its holdings in PLAYSTUDIOS by 4.5% in the 4th quarter. Mackenzie Financial Corp now owns 863,536 shares of the company's stock valued at $565,000 after purchasing an additional 36,905 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in PLAYSTUDIOS by 24.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 673,255 shares of the company's stock valued at $648,000 after purchasing an additional 132,412 shares during the last quarter. Hedge funds and other institutional investors own 37.52% of the company's stock.

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.

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