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

Key Points

• Short interest in PLAYSTUDIOS, Inc. (NASDAQ: MYPS) rose by 32.7%, reaching 499,300 shares as of August 15th.
• The company reported earnings per share (EPS) of ($0.02) for the last quarter, missing analysts' expectations, with revenue of $59.34 million against forecasts of $61.63 million.
• Insider trading activity showed significant sales, with CFO Scott Edward Peterson selling 25,000 shares, leading to a 3.99% decrease in his position within the company.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 499,300 shares, an increase of 32.7% from the July 31st total of 376,200 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 317,000 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 317,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.6% of the shares of the stock are sold short.

PLAYSTUDIOS Price Performance

Shares of PLAYSTUDIOS stock traded up $0.01 during trading on Friday, hitting $0.97. 303,949 shares of the company were exchanged, compared to its average volume of 214,170. The firm has a market capitalization of $120.96 million, a P/E ratio of -4.02 and a beta of 0.88. PLAYSTUDIOS has a 1-year low of $0.90 and a 1-year high of $2.29. The firm's fifty day moving average price is $1.08 and its 200 day moving average price is $1.27.

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 the consensus estimate of ($0.01) by ($0.01). PLAYSTUDIOS had a negative return on equity of 6.07% and a negative net margin of 12.00%.The company had revenue of $59.34 million for 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 anticipate that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded PLAYSTUDIOS from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $2.00 to $3.00 in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PLAYSTUDIOS presently has an average rating of "Hold" and a consensus price target of $2.50.

Insiders Place Their Bets

In other PLAYSTUDIOS news, CFO Scott Edward Peterson sold 25,000 shares of PLAYSTUDIOS stock in a transaction on Thursday, July 10th. The stock was 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 approximately $745,762.04. This trade represents a 3.99% 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 this link. Also, General Counsel Joel Agena sold 20,491 shares of PLAYSTUDIOS stock in a transaction on Monday, June 16th. The shares were sold at an average price of $1.43, for a total value of $29,302.13. Following the transaction, the general counsel directly owned 300,201 shares of the company's stock, valued at approximately $429,287.43. The trade was a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,430 shares of company stock valued at $292,374. Company insiders own 14.67% of the company's stock.

Hedge Funds Weigh In On PLAYSTUDIOS

Several institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC grew its position in shares of PLAYSTUDIOS by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 24,793 shares of the company's stock valued at $46,000 after purchasing an additional 8,159 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of PLAYSTUDIOS by 1.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 723,424 shares of the company's stock valued at $919,000 after purchasing an additional 9,517 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of PLAYSTUDIOS by 34.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,525 shares of the company's stock valued at $74,000 after purchasing an additional 10,130 shares during the period. Tower Research Capital LLC TRC grew its position in shares of PLAYSTUDIOS by 248.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company's stock valued at $29,000 after purchasing an additional 11,237 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of PLAYSTUDIOS by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 51,671 shares of the company's stock valued at $96,000 after purchasing an additional 11,254 shares during the period. 37.52% of the stock is currently owned by institutional investors and hedge funds.

PLAYSTUDIOS Company Profile

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.