PLAYSTUDIOS, Inc. (NASDAQ:MYPS – Get Rating) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 2,500,000 shares, an increase of 71.2% from the June 15th total of 1,460,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 692,700 shares, the days-to-cover ratio is currently 3.6 days.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Craig Hallum lowered shares of PLAYSTUDIOS from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.00 to $5.00 in a research note on Monday, July 11th. Morgan Stanley boosted their price objective on shares of PLAYSTUDIOS to $5.20 and gave the stock an “equal weight” rating in a report on Tuesday, May 17th.
Insider Buying and Selling at PLAYSTUDIOS
In other PLAYSTUDIOS news, CEO Andrew S. Pascal acquired 10,800 shares of the company’s stock in a transaction on Monday, April 25th. The shares were bought at an average cost of $5.59 per share, for a total transaction of $60,372.00. Following the completion of the purchase, the chief executive officer now owns 305,600 shares in the company, valued at approximately $1,708,304. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other PLAYSTUDIOS news, CEO Andrew S. Pascal acquired 9,400 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were bought at an average cost of $6.41 per share, for a total transaction of $60,254.00. Following the completion of the purchase, the chief executive officer now owns 361,500 shares in the company, valued at approximately $2,317,215. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew S. Pascal purchased 10,800 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were purchased at an average price of $5.59 per share, for a total transaction of $60,372.00. Following the completion of the purchase, the chief executive officer now owns 305,600 shares of the company’s stock, valued at $1,708,304. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 121,800 shares of company stock worth $665,476.
Hedge Funds Weigh In On PLAYSTUDIOS
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in PLAYSTUDIOS by 79.1% during the first quarter. Bank of America Corp DE now owns 133,189 shares of the company’s stock worth $647,000 after purchasing an additional 58,839 shares during the last quarter. Jane Street Group LLC acquired a new position in PLAYSTUDIOS during the first quarter worth approximately $233,000. Goldman Sachs Group Inc. acquired a new position in PLAYSTUDIOS during the first quarter worth approximately $154,000. Prelude Capital Management LLC increased its position in PLAYSTUDIOS by 5.4% during the first quarter. Prelude Capital Management LLC now owns 117,680 shares of the company’s stock worth $571,000 after purchasing an additional 6,013 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in PLAYSTUDIOS by 0.3% during the first quarter. Clearbridge Investments LLC now owns 1,514,113 shares of the company’s stock worth $7,343,000 after purchasing an additional 4,765 shares during the last quarter. Institutional investors and hedge funds own 14.10% of the company’s stock.
PLAYSTUDIOS Stock Up 3.4 %
Shares of NASDAQ:MYPS traded up $0.13 during trading on Friday, reaching $3.92. The stock had a trading volume of 388,834 shares, compared to its average volume of 1,064,016. The business has a fifty day moving average price of $5.18 and a 200-day moving average price of $4.86. The stock has a market cap of $495.49 million, a P/E ratio of -20.63 and a beta of -0.55. PLAYSTUDIOS has a fifty-two week low of $3.60 and a fifty-two week high of $7.04.
PLAYSTUDIOS (NASDAQ:MYPS – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.11) earnings per share for the quarter. The firm had revenue of $70.45 million during the quarter, compared to analyst estimates of $74.64 million. PLAYSTUDIOS had a negative net margin of 7.19% and a negative return on equity of 7.54%. As a group, equities analysts forecast that PLAYSTUDIOS will post -0.1 EPS for the current year.
About PLAYSTUDIOS
PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States, North America, and internationally. The company is headquartered in Las Vegas, Nevada.