Playtika (NASDAQ:PLTK) Shares Gap Down to $9.09

Playtika Holding Corp. (NASDAQ:PLTK)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $9.09, but opened at $8.81. Playtika shares last traded at $8.83, with a volume of 15,553 shares.

Wall Street Analyst Weigh In

PLTK has been the subject of a number of research reports. Roth Mkm increased their target price on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Stifel Nicolaus reduced their price target on Playtika from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Morgan Stanley cut their price objective on Playtika from $10.00 to $7.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 27th. The Goldman Sachs Group decreased their target price on Playtika from $11.00 to $8.75 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Wedbush cut their price target on shares of Playtika from $14.75 to $11.50 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Playtika currently has a consensus rating of “Hold” and a consensus price target of $10.30.

Playtika Price Performance

The stock’s 50-day moving average is $7.50 and its 200 day moving average is $7.75. The company has a market cap of $3.16 billion, a PE ratio of 15.47, a PEG ratio of 1.60 and a beta of 0.79.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Playtika had a negative return on equity of 94.21% and a net margin of 7.96%. The business had revenue of $637.90 million during the quarter, compared to analyst estimates of $630.26 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts expect that Playtika Holding Corp. will post 0.67 EPS for the current year.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Friday, June 21st. Playtika’s dividend payout ratio (DPR) is presently 72.73%.

Insider Activity

In other Playtika news, insider Gili Brudno sold 67,250 shares of Playtika stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $8.72, for a total transaction of $586,420.00. Following the completion of the sale, the insider now owns 201,750 shares of the company’s stock, valued at approximately $1,759,260. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Playtika

A number of hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its position in Playtika by 18.3% during the third quarter. Raymond James & Associates now owns 75,811 shares of the company’s stock worth $730,000 after acquiring an additional 11,706 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Playtika by 146.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 53,232 shares of the company’s stock valued at $513,000 after purchasing an additional 31,610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Playtika during the 3rd quarter worth $161,000. LSV Asset Management grew its holdings in shares of Playtika by 219.3% during the third quarter. LSV Asset Management now owns 4,603,513 shares of the company’s stock worth $44,332,000 after buying an additional 3,161,580 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Playtika by 346.6% in the third quarter. Los Angeles Capital Management LLC now owns 174,555 shares of the company’s stock valued at $1,681,000 after buying an additional 135,470 shares during the last quarter. 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.