PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Update

Key Points

• Short interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) declined by 19.8% in August, totaling 400,400 shares, with a short-interest ratio of 1.5 days.
• Analyst upgrades have boosted the stock's outlook, with Craig Hallum raising its rating from "hold" to "buy" and increasing the price target from $2.00 to $3.00.
• Insider transactions reveal significant selling activity, with various executives collectively selling over 183,000 shares valued at approximately $234,000 in the past three months.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 400,400 shares, a decrease of 19.8% from the August 15th total of 499,300 shares. Based on an average trading volume of 268,000 shares, the short-interest ratio is presently 1.5 days. Approximately 0.5% of the company's shares are short sold. Approximately 0.5% of the company's shares are short sold. Based on an average trading volume of 268,000 shares, the short-interest ratio is presently 1.5 days.

PLAYSTUDIOS Price Performance

MYPS traded up $0.01 on Friday, reaching $0.99. 849,419 shares of the company traded hands, compared to its average volume of 214,074. The stock's 50 day moving average price is $1.06 and its 200-day moving average price is $1.25. PLAYSTUDIOS has a 52-week low of $0.90 and a 52-week high of $2.29. The company has a market cap of $124.69 million, a price-to-earnings ratio of -4.14 and a beta of 0.88.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). PLAYSTUDIOS had a negative net margin of 12.00% and a negative return on equity of 6.07%. The business had revenue of $59.34 million during the quarter, compared to analyst estimates of $61.63 million. PLAYSTUDIOS has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that PLAYSTUDIOS will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at PLAYSTUDIOS

In other news, General Counsel Joel Agena sold 20,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $1.27, for a total value of $25,400.00. Following the transaction, the general counsel directly owned 35,301 shares in the company, valued at approximately $44,832.27. This trade represents a 36.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $1.24, for a total transaction of $31,000.00. Following the completion of the sale, the chief financial officer owned 601,421 shares in the company, valued at approximately $745,762.04. This represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,959 shares of company stock valued at $205,290 in the last three months. Company insiders own 14.67% of the company's stock.

Institutional Trading of PLAYSTUDIOS

A number of institutional investors and hedge funds have recently modified their holdings of MYPS. Northern Trust Corp lifted its stake in shares of PLAYSTUDIOS by 6.1% in the fourth quarter. Northern Trust Corp now owns 786,880 shares of the company's stock worth $1,464,000 after buying an additional 44,983 shares during the last quarter. Ameriprise Financial Inc. raised its stake in PLAYSTUDIOS by 18.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,381,542 shares of the company's stock valued at $4,430,000 after purchasing an additional 368,879 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in PLAYSTUDIOS in the 4th quarter valued at $153,000. Bank of America Corp DE boosted its holdings in PLAYSTUDIOS by 16.7% in the 4th quarter. Bank of America Corp DE now owns 216,685 shares of the company's stock valued at $403,000 after purchasing an additional 31,003 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in PLAYSTUDIOS by 5.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 230,008 shares of the company's stock valued at $428,000 after purchasing an additional 12,415 shares during the period. 37.52% of the stock is currently 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.