Playtika (NASDAQ:PLTK) Stock Price Up 12.9% – Here’s Why

Playtika Holding Corp. (NASDAQ:PLTK) traded up 12.9% on Tuesday . The stock traded as high as $4.29 and last traded at $4.2690. Approximately 1,276,326 shares were traded during trading, a decline of 21% from the average daily volume of 1,618,302 shares. The stock had previously closed at $3.78.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLTK. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a research note on Friday, May 29th. Roth Capital lifted their price target on Playtika from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, TD Cowen reiterated a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Playtika has an average rating of “Hold” and an average target price of $4.00.

Playtika Price Performance

The company has a fifty day simple moving average of $3.61 and a two-hundred day simple moving average of $3.42. The company has a market capitalization of $1.45 billion, a P/E ratio of -4.96 and a beta of 1.09.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). The business had revenue of $744.70 million during the quarter, compared to analyst estimates of $694.68 million. Playtika had a negative net margin of 10.54% and a negative return on equity of 67.46%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 EPS. Equities analysts anticipate that Playtika Holding Corp. will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On Playtika

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Playtika by 65.7% during the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock worth $29,630,000 after acquiring an additional 2,511,228 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Playtika by 20.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock valued at $15,455,000 after purchasing an additional 679,564 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Playtika by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock worth $17,541,000 after purchasing an additional 595,494 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Playtika by 15.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,191,732 shares of the company’s stock worth $12,416,000 after purchasing an additional 432,060 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Playtika by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,765,918 shares of the company’s stock valued at $6,976,000 after purchasing an additional 33,306 shares during the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

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.