Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Increases By 32.7%

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 large increase in short interest in August. As of August 15th, there was short interest totaling 499,300 shares, anincreaseof32.7% from the July 31st total of 376,200 shares. Based on an average trading volume of 317,000 shares, the short-interest ratio is presently 1.6 days. Approximately0.6% of the shares of the stock are short sold. Approximately0.6% of the shares of the stock are short sold. Based on an average trading volume of 317,000 shares, the short-interest ratio is presently 1.6 days.

PLAYSTUDIOS Price Performance

Shares of NASDAQ:MYPS traded down $0.01 during mid-day trading on Tuesday, reaching $0.95. 54,288 shares of the company were exchanged, compared to its average volume of 231,074. The firm has a market cap of $119.58 million, a price-to-earnings ratio of -3.98 and a beta of 0.88. The firm's 50-day simple moving average is $1.11 and its 200 day simple moving average is $1.29. PLAYSTUDIOS has a 1 year low of $0.90 and a 1 year high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last released 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). 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. On average, research analysts forecast that PLAYSTUDIOS will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Scott Edward Peterson sold 25,000 shares of the company's 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 of the company's stock, valued at approximately $745,762.04. This represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Agena sold 20,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $1.27, for a total transaction of $25,400.00. Following the sale, the general counsel directly owned 35,301 shares of the company's stock, valued at approximately $44,832.27. This represents a 36.17% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,430 shares of company stock valued at $268,624. 14.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PLAYSTUDIOS

Hedge funds and other institutional investors have recently modified their holdings of the company. 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 buying an additional 11,254 shares during the last quarter. 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 buying an additional 11,237 shares during the last quarter. 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 buying an additional 10,130 shares during the last quarter. Voya Investment Management LLC grew its position in shares of PLAYSTUDIOS by 134.0% in the 4th quarter. Voya Investment Management LLC now owns 97,855 shares of the company's stock valued at $182,000 after buying an additional 56,028 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of PLAYSTUDIOS by 6.1% in the 4th quarter. Northern Trust Corp now owns 786,880 shares of the company's stock valued at $1,464,000 after buying an additional 44,983 shares during the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Craig Hallum raised shares of PLAYSTUDIOS from a "hold" rating to a "buy" rating and increased their price target for the company from $2.00 to $3.00 in a research note on Friday, May 23rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.50.

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.

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