Playtika Holding Corp. (NASDAQ:PLTK) Given Average Rating of “Hold” by Analysts

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have been given an average recommendation of “Hold” by the nine research firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.09.

A number of equities research analysts have commented on the stock. Macquarie cut their target price on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Citigroup reduced their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Bank of America raised Playtika from an “underperform” rating to a “buy” rating and increased their target price for the company from $6.00 to $6.50 in a report on Wednesday. Wedbush restated an “outperform” rating and set a $11.50 price target on shares of Playtika in a research note on Wednesday, February 26th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $6.00 price objective (down previously from $9.00) on shares of Playtika in a research note on Friday, February 28th.

Hedge Funds Weigh In On Playtika

A number of hedge funds have recently modified their holdings of the company. KBC Group NV lifted its stake in shares of Playtika by 19.3% during the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock valued at $62,000 after buying an additional 1,266 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Playtika by 142.9% in the third quarter. Banque Cantonale Vaudoise now owns 29,875 shares of the company’s stock valued at $237,000 after acquiring an additional 17,574 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Playtika by 23.2% in the third quarter. Penserra Capital Management LLC now owns 142,564 shares of the company’s stock worth $1,129,000 after acquiring an additional 26,801 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Playtika by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock worth $21,267,000 after purchasing an additional 326,890 shares in the last quarter. Finally, FMR LLC raised its stake in Playtika by 1.2% during the 3rd quarter. FMR LLC now owns 1,339,801 shares of the company’s stock valued at $10,611,000 after purchasing an additional 15,471 shares during the period. 11.94% of the stock is currently owned by institutional investors.

Playtika Price Performance

Shares of NASDAQ PLTK opened at $5.20 on Friday. The firm’s 50-day moving average price is $6.18 and its 200-day moving average price is $7.19. Playtika has a 52-week low of $3.97 and a 52-week high of $9.16. The company has a market cap of $1.95 billion, a PE ratio of 8.97, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s dividend payout ratio is 90.91%.

About Playtika

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.