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

Playtika Holding Corp. (NASDAQ:PLTK) shares hit a new 52-week low on Tuesday . The stock traded as low as $2.26 and last traded at $2.26, with a volume of 2077179 shares changing hands. The stock had previously closed at $2.51.

Analysts Set New Price Targets

PLTK has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a report on Friday, May 29th. Roth Capital upped their price objective on shares of Playtika from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group set a $3.75 target price on shares of Playtika in a report on Friday, August 7th. Wall Street Zen upgraded Playtika from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Playtika in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.11.

Playtika Price Performance

The stock’s 50 day moving average is $3.55 and its 200-day moving average is $3.36. The company has a market capitalization of $896.34 million, a P/E ratio of -3.22 and a beta of 1.09.

Institutional Inflows and Outflows

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

About Playtika

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.