Playtika Holding Corp. (NASDAQ:PLTK) Stock Position Raised by ARK Investment Management LLC

ARK Investment Management LLC boosted its holdings in Playtika Holding Corp. (NASDAQ:PLTK) by 7.9% during the second quarter, HoldingsChannel.com reports. The fund owned 314,742 shares of the company’s stock after acquiring an additional 22,913 shares during the period. ARK Investment Management LLC’s holdings in Playtika were worth $2,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Playtika by 16.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 37,726 shares of the company’s stock worth $297,000 after purchasing an additional 5,352 shares during the last quarter. Bank of New York Mellon Corp grew its position in Playtika by 40.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 128,725 shares of the company’s stock worth $1,013,000 after purchasing an additional 36,883 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Playtika during the second quarter valued at approximately $266,000. Assenagon Asset Management S.A. acquired a new position in shares of Playtika during the second quarter worth approximately $744,000. Finally, Dynamic Advisor Solutions LLC grew its holdings in Playtika by 16.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 22,695 shares of the company’s stock worth $179,000 after buying an additional 3,265 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group began coverage on Playtika in a research report on Monday, June 24th. They set a “neutral” rating and a $8.50 price target for the company. Roth Mkm decreased their target price on shares of Playtika from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley boosted their price target on shares of Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Wedbush reiterated an “outperform” rating and set a $11.50 price objective on shares of Playtika in a research note on Thursday, August 8th. Finally, Robert W. Baird upped their target price on Playtika from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Playtika presently has an average rating of “Hold” and an average price target of $9.29.

Playtika Price Performance

NASDAQ PLTK traded down $0.18 on Tuesday, hitting $7.65. 304,562 shares of the company were exchanged, compared to its average volume of 926,593. Playtika Holding Corp. has a twelve month low of $6.25 and a twelve month high of $10.84. The company’s 50 day moving average price is $7.52 and its 200-day moving average price is $7.61. The firm has a market capitalization of $2.84 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 0.91 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $640.27 million. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. As a group, equities analysts expect that Playtika Holding Corp. will post 0.73 EPS for the current year.

Playtika Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 20th. This represents a $0.40 dividend on an annualized basis and a yield of 5.23%. Playtika’s payout ratio is presently 72.73%.

Playtika 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.