Playtika (NASDAQ:PLTK) Trading 12.9% Higher – Here’s Why

Playtika Holding Corp. (NASDAQ:PLTK)’s share price was up 12.9% on Tuesday . The company traded as high as $4.29 and last traded at $4.2690. Approximately 1,276,326 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 1,618,302 shares. The stock had previously closed at $3.78.

Analyst Ratings Changes

Several brokerages have commented on PLTK. Weiss Ratings restated a “sell (d)” rating on shares of Playtika in a research note on Friday, May 29th. Roth Capital boosted their target price on Playtika from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, TD Cowen reissued a “buy” rating on shares of Playtika in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.00.

Playtika Stock Performance

The firm has a fifty day moving average of $3.60 and a 200-day moving average of $3.42. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.47 and a beta of 1.09.

Playtika (NASDAQ:PLTK) last issued its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.22). The company had revenue of $744.70 million during the quarter, compared to analysts’ expectations of $694.68 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 period in the previous year, the company earned $0.08 EPS. On average, analysts predict that Playtika Holding Corp. will post 0.64 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Playtika by 65.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock worth $29,630,000 after buying an additional 2,511,228 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Playtika by 20.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock worth $15,455,000 after acquiring an additional 679,564 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Playtika by 19.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock worth $17,541,000 after acquiring an additional 595,494 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Playtika by 15.7% in the third quarter. Vanguard Group Inc. now owns 3,191,732 shares of the company’s stock valued at $12,416,000 after purchasing an additional 432,060 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Playtika by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,765,918 shares of the company’s stock valued at $6,976,000 after purchasing an additional 33,306 shares in the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

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.