Playtika (NASDAQ:PLTK) Hits New 1-Year Low – Here’s Why

Playtika Holding Corp. (NASDAQ:PLTK)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $4.57 and last traded at $4.74, with a volume of 1793788 shares changing hands. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $11.50 price objective on shares of Playtika in a research note on Wednesday, February 26th. Macquarie reduced their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird restated a “neutral” rating and set a $6.00 price objective (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Finally, Citigroup reduced their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Playtika presently has a consensus rating of “Hold” and a consensus target price of $8.32.

Playtika Price Performance

The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The business has a fifty day moving average price of $6.54 and a 200 day moving average price of $7.34.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date is Friday, March 21st. Playtika’s dividend payout ratio (DPR) is 90.91%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Playtika by 23,814.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after purchasing an additional 663,700 shares during the period. State Street Corp raised its position in Playtika by 12.9% in the third quarter. State Street Corp now owns 1,317,709 shares of the company’s stock worth $10,564,000 after acquiring an additional 150,878 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Playtika by 14.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,137,595 shares of the company’s stock worth $9,010,000 after acquiring an additional 142,112 shares in the last quarter. JPMorgan Chase & Co. raised its position in Playtika by 102.7% in the third quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company’s stock worth $635,000 after acquiring an additional 40,604 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Playtika by 76.2% in the fourth quarter. SG Americas Securities LLC now owns 175,008 shares of the company’s stock worth $1,215,000 after acquiring an additional 75,702 shares in the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

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.