Playtika (NASDAQ:PLTK) Shares Gap Down on Disappointing Earnings

Playtika Holding Corp. (NASDAQ:PLTK)’s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $3.89, but opened at $3.47. Playtika shares last traded at $3.3550, with a volume of 309,795 shares changing hands.

The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Playtika had a negative return on equity of 67.46% and a negative net margin of 10.54%.The company had revenue of $731.10 million for the quarter, compared to analysts’ expectations of $713.12 million. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year.

Analyst Ratings Changes

Several brokerages have weighed in on PLTK. TD Cowen reiterated a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Roth Capital upped their price objective on shares of Playtika from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Wedbush increased their target price on shares of Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Playtika in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Playtika has a consensus rating of “Hold” and a consensus price target of $4.17.

Institutional Trading of Playtika

Institutional investors have recently modified their holdings of the company. Greenwich Wealth Management LLC boosted its holdings in Playtika by 32.9% in the fourth quarter. Greenwich Wealth Management LLC now owns 16,361 shares of the company’s stock valued at $65,000 after purchasing an additional 4,049 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Playtika by 24.5% during the 2nd quarter. Corient Private Wealth LLC now owns 24,626 shares of the company’s stock valued at $116,000 after buying an additional 4,842 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Playtika by 129.8% in the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock valued at $36,000 after buying an additional 5,147 shares during the period. Comerica Bank lifted its holdings in shares of Playtika by 278.9% in the 4th quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after buying an additional 6,704 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Playtika by 24.4% in the fourth quarter. Invesco Ltd. now owns 35,570 shares of the company’s stock worth $141,000 after buying an additional 6,975 shares during the last quarter. 11.94% of the stock is currently owned by institutional investors.

Playtika Price Performance

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.23 and a beta of 1.09. The firm has a fifty day moving average of $3.69 and a 200 day moving average of $3.43.

Playtika Company Profile

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.