Playtika (NASDAQ:PLTK) Shares Down 5.4% – Time to Sell?

Playtika Holding Corp. (NASDAQ:PLTK)’s share price fell 5.4% during mid-day trading on Monday . The stock traded as low as $2.39 and last traded at $2.3750. 85,154 shares were traded during trading, a decline of 95% from the average daily volume of 1,627,242 shares. The stock had previously closed at $2.51.

Wall Street Analysts Forecast Growth

PLTK has been the topic of a number of research analyst reports. TD Cowen reissued a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Wall Street Zen upgraded shares of Playtika from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wedbush lifted their price objective on shares of Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Playtika in a research note on Friday, May 29th. Finally, Morgan Stanley set a $4.25 target price on shares of Playtika in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.11.

Playtika Stock Down 1.3%

The company has a market capitalization of $850.57 million, a PE ratio of -3.05 and a beta of 1.09. The company has a 50-day moving average price of $3.56 and a two-hundred day moving average price of $3.37.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Playtika had a negative return on equity of 65.82% and a negative net margin of 9.89%.The company had revenue of $731.10 million for the quarter, compared to analysts’ expectations of $713.12 million. During the same period last year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts anticipate that Playtika Holding Corp. will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Playtika

A number of large investors have recently modified their holdings of PLTK. Public Employees Retirement System of Ohio increased its holdings in Playtika by 62.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 165,394 shares of the company’s stock worth $615,000 after acquiring an additional 63,717 shares during the period. Bank of America Corp DE grew its position in shares of Playtika by 115.8% during the 2nd quarter. Bank of America Corp DE now owns 131,977 shares of the company’s stock valued at $491,000 after purchasing an additional 70,806 shares in the last quarter. Man Group plc bought a new position in shares of Playtika in the second quarter worth $2,554,000. Hsbc Holdings PLC bought a new position in shares of Playtika in the second quarter worth $219,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Playtika in the second quarter worth $88,000. 11.94% of the stock is currently owned by institutional investors.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.