Morgan Stanley Raises Playtika (NASDAQ:PLTK) Price Target to $8.25

Playtika (NASDAQ:PLTK) had its price target boosted by Morgan Stanley from $7.40 to $8.25 in a research report released on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on PLTK. Macquarie cut shares of Playtika from an outperform rating to a neutral rating and set a $9.00 price target for the company. in a report on Thursday, June 13th. Roth Mkm raised their price target on shares of Playtika from $8.00 to $9.00 and gave the stock a neutral rating in a report on Friday, May 10th. UBS Group started coverage on shares of Playtika in a report on Monday, June 24th. They issued a neutral rating and a $8.50 price target for the company. Finally, Robert W. Baird raised their price target on shares of Playtika from $9.00 to $10.00 and gave the stock an outperform rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $10.12.

Playtika Stock Up 0.4 %

PLTK opened at $7.67 on Tuesday. Playtika has a twelve month low of $6.25 and a twelve month high of $12.48. The company has a fifty day moving average of $8.17 and a 200-day moving average of $7.65. The stock has a market cap of $2.85 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Playtika had a net margin of 7.96% and a negative return on equity of 94.21%. The company had revenue of $651.20 million during the quarter, compared to analysts’ expectations of $642.38 million. Sell-side analysts anticipate that Playtika will post 0.66 EPS for the current fiscal year.

Playtika Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 21st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date was Friday, June 21st. Playtika’s dividend payout ratio (DPR) is 72.73%.

Insider Activity at Playtika

In related news, insider Gili Brudno sold 67,250 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $8.72, for a total transaction of $586,420.00. Following the transaction, the insider now directly owns 201,750 shares of the company’s stock, valued at $1,759,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Quent Capital LLC lifted its position in shares of Playtika by 109.1% during the fourth quarter. Quent Capital LLC now owns 3,092 shares of the company’s stock valued at $27,000 after purchasing an additional 1,613 shares in the last quarter. International Assets Investment Management LLC raised its position in Playtika by 772.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,924 shares of the company’s stock worth $34,000 after acquiring an additional 3,474 shares during the period. Versant Capital Management Inc bought a new stake in Playtika in the second quarter worth about $36,000. Banque Cantonale Vaudoise bought a new stake in Playtika in the first quarter worth about $82,000. Finally, Delap Wealth Advisory LLC bought a new stake in Playtika in the first quarter worth about $84,000. 11.94% of the stock is owned by institutional investors.

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.