Wedbush Reiterates “Outperform” Rating for Playtika (NASDAQ:PLTK)

Playtika (NASDAQ:PLTK)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $11.50 price objective on the stock. Wedbush’s price objective indicates a potential upside of 101.75% from the company’s previous close. Wedbush also issued estimates for Playtika’s Q4 2024 earnings at $0.21 EPS.

Several other equities research analysts have also recently weighed in on PLTK. Roth Mkm upped their price target on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Macquarie restated a “neutral” rating and set a $7.00 target price on shares of Playtika in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.04.

Playtika Stock Performance

Shares of Playtika stock opened at $5.70 on Wednesday. Playtika has a 52-week low of $5.22 and a 52-week high of $9.15. The stock’s 50-day simple moving average is $7.06 and its 200 day simple moving average is $7.55. The stock has a market capitalization of $2.12 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.69 and a beta of 0.92.

Insider Activity

In related news, major shareholder Holding Uk Ltd Playtika II sold 291,508 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $8.17, for a total value of $2,381,620.36. Following the transaction, the insider now directly owns 201,000,143 shares of the company’s stock, valued at approximately $1,642,171,168.31. The trade was a 0.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 491,921 shares of company stock valued at $4,004,775 in the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Playtika

Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in shares of Playtika by 314.3% during the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock worth $344,000 after acquiring an additional 37,625 shares in the last quarter. Neo Ivy Capital Management grew its position in Playtika by 756.9% in the 4th quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock valued at $423,000 after acquiring an additional 53,849 shares during the last quarter. CSS LLC IL grew its position in Playtika by 78.9% in the 4th quarter. CSS LLC IL now owns 50,233 shares of the company’s stock valued at $349,000 after acquiring an additional 22,161 shares during the last quarter. Woodline Partners LP grew its position in Playtika by 41.4% in the 4th quarter. Woodline Partners LP now owns 449,877 shares of the company’s stock valued at $3,122,000 after acquiring an additional 131,669 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Playtika by 411.3% during the 4th quarter. Two Sigma Advisers LP now owns 58,800 shares of the company’s stock worth $408,000 after buying an additional 47,300 shares in the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

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.