Playtika (NASDAQ:PLTK) Trading Up 7% – Here’s What Happened

Playtika Holding Corp. (NASDAQ:PLTK) was up 7% during mid-day trading on Monday . The company traded as high as $3.51 and last traded at $3.37. Approximately 2,965,505 shares changed hands during mid-day trading, an increase of 111% from the average daily volume of 1,407,508 shares. The stock had previously closed at $3.15.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLTK shares. Wedbush downgraded shares of Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a report on Monday, March 2nd. Roth Mkm lifted their price objective on shares of Playtika from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Citigroup lowered their price objective on shares of Playtika from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Friday, February 20th. The Goldman Sachs Group lowered their price objective on shares of Playtika from $4.75 to $4.25 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Playtika in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.00.

Playtika Stock Up 7.0%

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -4.38 and a beta of 1.08. The stock’s fifty day moving average is $3.41 and its two-hundred day moving average is $3.48.

Playtika (NASDAQ:PLTK) last issued its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). The firm had revenue of $744.70 million for the quarter, compared to analyst estimates of $694.69 million. Playtika had a negative return on equity of 67.46% and a negative net margin of 10.54%.Playtika’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, analysts anticipate that Playtika Holding Corp. will post 0.64 EPS for the current year.

Hedge Funds Weigh In On Playtika

Several institutional investors and hedge funds have recently modified their holdings of PLTK. Amundi increased its holdings in shares of Playtika by 160.0% in the first quarter. Amundi now owns 51,366 shares of the company’s stock valued at $256,000 after purchasing an additional 31,607 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Playtika by 12.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,781 shares of the company’s stock valued at $531,000 after purchasing an additional 11,650 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Playtika by 536.3% in the first quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock valued at $7,003,000 after acquiring an additional 1,141,685 shares during the period. Creative Planning boosted its position in shares of Playtika by 143.3% in the second quarter. Creative Planning now owns 28,089 shares of the company’s stock valued at $133,000 after acquiring an additional 16,546 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Playtika by 126.5% in the second quarter. JPMorgan Chase & Co. now owns 399,067 shares of the company’s stock valued at $1,888,000 after acquiring an additional 222,913 shares during the period. 11.94% of the stock is currently owned by institutional investors and hedge funds.

About Playtika

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.