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

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 the month of 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. Currently, 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 268,000 shares, the short-interest ratio is presently 1.5 days. Based on an average daily trading volume, of 268,000 shares, the short-interest ratio is presently 1.5 days. Currently, 0.5% of the company's stock are sold short.

PLAYSTUDIOS Stock Performance

PLAYSTUDIOS stock traded up $0.03 during mid-day trading on Monday, reaching $1.02. The company's stock had a trading volume of 276,114 shares, compared to its average volume of 238,052. PLAYSTUDIOS has a 12 month low of $0.90 and a 12 month high of $2.29. The business's 50 day simple moving average is $1.05 and its 200 day simple moving average is $1.25. The company has a market capitalization of $127.86 million, a price-to-earnings ratio of -4.25 and a beta of 0.88.

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

Insider Transactions at PLAYSTUDIOS

In other news, CFO Scott Edward Peterson sold 25,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 601,421 shares of the company's stock, valued at $745,762.04. This trade represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joel Agena sold 20,490 shares of PLAYSTUDIOS stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1.33, for a total transaction of $27,251.70. Following the completion of the sale, the general counsel owned 95,301 shares in the company, valued at $126,750.33. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,469 shares of company stock valued at $176,604. 14.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MYPS. ProShare Advisors LLC raised its position in PLAYSTUDIOS by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 24,793 shares of the company's stock worth $46,000 after acquiring an additional 8,159 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of PLAYSTUDIOS by 1.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 723,424 shares of the company's stock worth $919,000 after purchasing an additional 9,517 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of 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. Los Angeles Capital Management LLC raised its holdings in shares of PLAYSTUDIOS by 16.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 174,479 shares of the company's stock valued at $229,000 after purchasing an additional 24,715 shares during the period. Finally, Two Sigma Investments LP lifted its stake in PLAYSTUDIOS by 15.7% in the 4th quarter. Two Sigma Investments LP now owns 186,152 shares of the company's stock valued at $346,000 after purchasing an additional 25,224 shares during the last quarter. Institutional investors and hedge funds own 37.52% of the company's stock.

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.