Playtech (LON:PTEC) Insider Mor Weizer Purchases 71,321 Shares

Playtech plc (LON:PTEC) insider Mor Weizer acquired 71,321 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of GBX 375 per share, for a total transaction of £267,453.75.

Playtech Stock Up 0.5%

Shares of Playtech stock traded up GBX 1.80 during trading hours on Wednesday, reaching GBX 365. 71,807,813 shares of the company were exchanged, compared to its average volume of 12,699,473. Playtech plc has a 1 year low of GBX 210 and a 1 year high of GBX 447. The stock’s fifty day moving average is GBX 367.84 and its 200 day moving average is GBX 315.52. The company has a debt-to-equity ratio of 24.36, a quick ratio of 1.09 and a current ratio of 1.42. The firm has a market cap of £1.01 billion, a PE ratio of 0.75, a PEG ratio of 1.28 and a beta of 0.65.

Playtech announced that its board has authorized a share repurchase program on Friday, March 27th that authorizes the company to buyback 5,660,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup upped their price objective on Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a research report on Monday, March 30th. Deutsche Bank Aktiengesellschaft cut their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a GBX 405 target price on shares of Playtech in a report on Wednesday.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.