Playtika (NASDAQ:PLTK) Hits New 1-Year Low – Time to Sell?

Playtika Holding Corp. (NASDAQ:PLTK) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $2.06 and last traded at $2.0750, with a volume of 451,977 shares changing hands. The stock had previously closed at $2.19.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLTK shares. Wedbush increased their price objective on Playtika from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a report on Wednesday, August 26th. Roth Capital decreased 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. Morgan Stanley set a $4.25 target price on Playtika in a research report on Monday, August 10th. Finally, Citigroup restated a “buy” rating on shares of Playtika in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.75.

Playtika Stock Down 5.7%

The firm has a market capitalization of $787.63 million, a price-to-earnings ratio of -2.82 and a beta of 1.07. The company has a 50-day moving average price of $2.36 and a 200-day moving average price of $3.12.

Institutional Investors Weigh In On Playtika

Several institutional investors have recently made changes to their positions in the company. Williams & Novak Wealth Management LLC lifted its stake in shares of Playtika by 12.0% in the third quarter. Williams & Novak Wealth Management LLC now owns 110,035 shares of the company’s stock worth $235,000 after buying an additional 11,830 shares during the last quarter. Tidal Investments LLC grew its holdings in Playtika by 153.0% in the 2nd quarter. Tidal Investments LLC now owns 353,984 shares of the company’s stock valued at $1,317,000 after buying an additional 214,093 shares during the last quarter. NewEdge Advisors LLC bought a new position in Playtika in the 2nd quarter worth approximately $78,000. AXQ Capital LP bought a new position in Playtika in the 2nd quarter worth approximately $70,000. Finally, Headlands Technologies LLC acquired a new position in shares of Playtika during the second quarter worth approximately $173,000. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Playtika Company Profile

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and social games. Its business focuses on casual and social gaming experiences that generate revenue through in-game purchases, advertising, and other virtual goods.

The company’s portfolio has included titles such as Slotomania, Caesars Slots, Bingo Blitz, House of Fun, June’s Journey, Board Kings, and World Series of Poker. Playtika uses data analytics, live-operations capabilities, and ongoing content updates to manage player engagement and extend the life of its games.

Founded in 2010, Playtika is headquartered in Israel and serves players internationally through mobile applications and online platforms.