Playtika (NASDAQ:PLTK) Trading Up 10.8%

Playtika Holding Corp. (NASDAQ:PLTK)’s stock price shot up 10.8% during mid-day trading on Thursday . The stock traded as high as $8.63 and last traded at $8.59. 182,525 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 939,968 shares. The stock had previously closed at $7.75.

Analyst Ratings Changes

PLTK has been the topic of several analyst reports. Bank of America lowered Playtika from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $11.00 to $8.00 in a report on Thursday, January 18th. The Goldman Sachs Group decreased their target price on shares of Playtika from $11.00 to $8.75 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Morgan Stanley reduced their price target on shares of Playtika from $10.00 to $7.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 27th. Wedbush lowered their price objective on Playtika from $14.75 to $11.50 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Finally, HSBC downgraded Playtika from a “buy” rating to a “hold” rating and reduced their target price for the company from $14.90 to $8.00 in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.43.

Playtika Stock Performance

The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.15 and a beta of 0.79. The firm has a 50-day simple moving average of $7.12 and a two-hundred day simple moving average of $7.72.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.07). The business had revenue of $637.90 million during the quarter, compared to analysts’ expectations of $630.26 million. Playtika had a net margin of 9.15% and a negative return on equity of 81.85%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. As a group, equities analysts forecast that Playtika Holding Corp. will post 0.69 EPS for the current fiscal year.

Playtika Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Thursday, March 21st. Playtika’s payout ratio is currently 62.50%.

Institutional Investors Weigh In On Playtika

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in Playtika by 0.8% during the 1st quarter. Russell Investments Group Ltd. now owns 184,926 shares of the company’s stock worth $1,304,000 after acquiring an additional 1,495 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Playtika during the 1st quarter worth $260,000. LSV Asset Management grew its stake in shares of Playtika by 3.4% during the first quarter. LSV Asset Management now owns 7,756,485 shares of the company’s stock worth $54,683,000 after purchasing an additional 256,353 shares in the last quarter. Prairiewood Capital LLC purchased a new position in Playtika in the first quarter valued at $234,000. Finally, DGS Capital Management LLC purchased a new position in Playtika in the first quarter valued at $90,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.