Playtika (NASDAQ:PLTK) Upgraded by Bank of America to Buy Rating

Playtika (NASDAQ:PLTK) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued on Wednesday,Finviz reports. The brokerage presently has a $6.50 price target on the stock, up from their previous price target of $6.00. Bank of America‘s target price indicates a potential upside of 47.73% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Macquarie reduced their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Citigroup lowered their price target on shares of Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 7th. Robert W. Baird reissued a “neutral” rating and set a $6.00 price objective (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Wedbush restated an “outperform” rating and issued a $11.50 price target on shares of Playtika in a research report on Wednesday, February 26th. Finally, Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.09.

Playtika Stock Performance

Shares of NASDAQ:PLTK opened at $4.40 on Wednesday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 1.69 and a beta of 0.98. The firm has a fifty day moving average price of $6.29 and a 200 day moving average price of $7.23. Playtika has a fifty-two week low of $3.97 and a fifty-two week high of $9.16.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after acquiring an additional 1,534 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Playtika by 146.0% during the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after buying an additional 2,910 shares during the period. Versant Capital Management Inc boosted its position in Playtika by 148.7% during the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after acquiring an additional 3,496 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Playtika in the 3rd quarter valued at $56,000. Finally, R Squared Ltd bought a new position in shares of Playtika in the 4th quarter worth $57,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

About Playtika

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.