Playtika (NASDAQ:PLTK) Trading Up 4.8% – Should You Buy?

Shares of Playtika Holding Corp. (NASDAQ:PLTK) were up 4.8% during trading on Tuesday . The company traded as high as $4.87 and last traded at $4.89. Approximately 594,096 shares changed hands during trading, a decline of 49% from the average daily volume of 1,154,344 shares. The stock had previously closed at $4.66.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. 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 lifted their price target for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Macquarie dropped their price target on shares of 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 lowered shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.50 target price on shares of Playtika in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.78.

Playtika Stock Up 4.0%

The business has a 50-day simple moving average of $4.96 and a 200-day simple moving average of $6.48. The company has a market cap of $1.82 billion, a PE ratio of 8.24, a P/E/G ratio of 1.69 and a beta of 0.91.

Playtika (NASDAQ:PLTK) last announced its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $706.00 million for the quarter, compared to analyst estimates of $699.67 million. Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. On average, research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 23rd will be given a dividend of $0.10 per share. The ex-dividend date is Monday, June 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.26%. Playtika’s payout ratio is currently 105.26%.

Insider Transactions at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 200,000 shares of Playtika stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $5.00, for a total transaction of $1,000,000.00. Following the sale, the insider now directly owns 200,347,048 shares in the company, valued at $1,001,735,240. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of Playtika

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its stake in Playtika by 536.3% in the 1st quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock valued at $7,003,000 after purchasing an additional 1,141,685 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Playtika by 61.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after purchasing an additional 1,109,594 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Playtika by 23,814.1% in 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 last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Playtika by 143.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 719,263 shares of the company’s stock valued at $3,719,000 after buying an additional 423,738 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Playtika during the 4th quarter worth $2,402,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

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.