Playtika (NASDAQ:PLTK) Sets New 52-Week Low – Should You Sell?

Shares of Playtika Holding Corp. (NASDAQ:PLTK) hit a new 52-week low on Wednesday. The stock traded as low as $2.06 and last traded at $2.0750, with a volume of 451,977 shares. The stock had previously closed at $2.19.

Wall Street Analyst Weigh In

PLTK has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Playtika from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Wedbush increased their price target on shares of Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Roth Capital decreased their price target on Playtika from $3.50 to $2.75 and set a “neutral” rating for the company in a research note on Monday, August 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Playtika in a research note on Wednesday, August 26th. Finally, Morgan Stanley set a $4.25 price objective on Playtika in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.67.

Playtika Trading Up 6.3%

The company has a 50-day moving average of $2.30 and a 200-day moving average of $3.11. The firm has a market capitalization of $831.50 million, a price-to-earnings ratio of -2.99 and a beta of 1.07.

Institutional Trading of Playtika

A number of institutional investors and hedge funds have recently modified their holdings of the business. Williams & Novak Wealth Management LLC grew its position in shares of Playtika by 12.0% during the 3rd quarter. Williams & Novak Wealth Management LLC now owns 110,035 shares of the company’s stock valued at $235,000 after buying an additional 11,830 shares during the last quarter. Tidal Investments LLC lifted its holdings in Playtika by 153.0% in the second quarter. Tidal Investments LLC now owns 353,984 shares of the company’s stock worth $1,317,000 after acquiring an additional 214,093 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Playtika in the second quarter valued at approximately $78,000. AXQ Capital LP acquired a new position in Playtika in the second quarter valued at approximately $70,000. Finally, Headlands Technologies LLC bought a new position in shares of Playtika during the second quarter valued at approximately $173,000. 11.94% of the stock is owned by institutional investors and hedge funds.

Playtika Company Profile

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and social games. Its business focuses on casual and social gaming experiences that generate revenue through in-game purchases, advertising, and other virtual goods.

The company’s portfolio has included titles such as Slotomania, Caesars Slots, Bingo Blitz, House of Fun, June’s Journey, Board Kings, and World Series of Poker. Playtika uses data analytics, live-operations capabilities, and ongoing content updates to manage player engagement and extend the life of its games.

Founded in 2010, Playtika is headquartered in Israel and serves players internationally through mobile applications and online platforms.