Playtika (NASDAQ:PLTK) Shares Gap Down – What’s Next?

Playtika Holding Corp. (NASDAQ:PLTK) gapped down before the market opened on Tuesday . The stock had previously closed at $2.92, but opened at $2.83. Playtika shares last traded at $2.8340, with a volume of 506,246 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLTK. The Goldman Sachs Group dropped their target price on Playtika from $4.75 to $4.25 and set a “neutral” rating for the company in a report on Monday, March 2nd. Wedbush cut Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 price target on the stock. in a research report on Monday, March 2nd. Citigroup cut their price objective on Playtika from $7.00 to $5.50 and set a “buy” rating for the company in a report on Friday, February 20th. Weiss Ratings lowered shares of Playtika from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Finally, Wall Street Zen cut shares of Playtika from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.68.

Playtika Trading Down 1.8%

The stock has a fifty day moving average of $3.42 and a two-hundred day moving average of $3.70. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.19 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced its earnings results on Thursday, February 26th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.96). Playtika had a negative return on equity of 114.29% and a negative net margin of 7.49%.During the same period in the prior year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On Playtika

A number of institutional investors have recently modified their holdings of PLTK. AQR Capital Management LLC grew its stake in shares of Playtika by 65.7% during the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock valued at $29,630,000 after purchasing an additional 2,511,228 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Playtika by 20.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock worth $15,455,000 after buying an additional 679,564 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Playtika by 19.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock worth $17,541,000 after buying an additional 595,494 shares in the last quarter. Vanguard Group Inc. boosted its position in Playtika by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,191,732 shares of the company’s stock valued at $12,416,000 after buying an additional 432,060 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Playtika by 27.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,971,608 shares of the company’s stock valued at $9,311,000 after buying an additional 423,779 shares during the period. 11.94% of the stock is owned by institutional investors.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.