Playtika (NASDAQ:PLTK) Stock Falls 4.9% on Insider Selling

Shares of Playtika Holding Corp. (NASDAQ:PLTK) dropped 4.9% on Wednesday following insider selling activity. The company traded as low as $2.58 and last traded at $2.5950. Approximately 789,162 shares traded hands during trading, a decline of 49% from the average daily volume of 1,550,663 shares. The stock had previously closed at $2.73.

Specifically, CTO Uri Rubin sold 220,000 shares of Playtika stock in a transaction on Monday, November 9th. The shares were sold at an average price of $2.52, for a total transaction of $554,400.00. Following the transaction, the chief technology officer owned 489,352 shares in the company, valued at approximately $1,233,167.04. The trade was a 31.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PLTK shares. The Goldman Sachs Group set a $3.75 price objective on Playtika in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Playtika in a report on Wednesday, August 26th. Wedbush reduced their price target on Playtika from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, November 6th. Morgan Stanley set a $4.25 price target on Playtika in a research note on Monday, August 10th. Finally, Roth Capital lowered their price objective on Playtika from $3.50 to $2.75 and set a “neutral” rating for the company in a research report on Monday, August 31st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.35.

Playtika Price Performance

The firm has a market cap of $993.03 million, a price-to-earnings ratio of -3.55 and a beta of 1.08. The firm’s fifty day moving average is $2.20 and its 200-day moving average is $3.04.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Playtika had a negative return on equity of 67.84% and a negative net margin of 9.84%. The firm had revenue of $673.80 million during the quarter, compared to the consensus estimate of $666.98 million. During the same period last year, the business posted $0.11 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Playtika Holding Corp. will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Playtika

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtus Advisers LLC lifted its stake in Playtika by 90.9% in the third quarter. Virtus Advisers LLC now owns 133,451 shares of the company’s stock valued at $286,000 after buying an additional 63,538 shares during the period. International Assets Investment Management LLC increased its stake in shares of Playtika by 89.2% in the 3rd quarter. International Assets Investment Management LLC now owns 22,742 shares of the company’s stock valued at $49,000 after acquiring an additional 10,725 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Playtika in the 3rd quarter valued at $52,000. SummerHaven Investment Management LLC acquired a new position in shares of Playtika during the 3rd quarter valued at $217,000. Finally, Williams & Novak Wealth Management LLC lifted its position in shares of Playtika by 12.0% during the 3rd quarter. Williams & Novak Wealth Management LLC now owns 110,035 shares of the company’s stock valued at $235,000 after acquiring an additional 11,830 shares during the period. Institutional investors own 11.94% of the company’s stock.

Playtika Company Profile

Playtika Holding Corp. develops and publishes free-to-play mobile games, with a focus on social casino and casual gaming. Its games are available on mobile devices and online, and generate revenue primarily through in-game purchases and advertising. Its portfolio includes titles such as Slotomania, Caesars Slots, Bingo Blitz and June’s Journey. Playtika was founded in 2010 and has expanded its portfolio through acquisitions, including the 2018 purchase of German game developer Wooga. Founded in Israel, Playtika serves players in markets around the world.