Morgan Stanley Boosts Playtika (NASDAQ:PLTK) Price Target to $8.25

Playtika (NASDAQ:PLTK) had its price target lifted by Morgan Stanley from $7.40 to $8.25 in a research report released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird lifted their price objective on Playtika from $9.00 to $10.00 and gave the company an outperform rating in a report on Friday, May 10th. UBS Group began coverage on Playtika in a research report on Monday, June 24th. They issued a neutral rating and a $8.50 price target on the stock. Macquarie cut Playtika from an outperform rating to a neutral rating and set a $9.00 price objective for the company. in a report on Thursday, June 13th. Finally, Roth Mkm upped their target price on shares of Playtika from $8.00 to $9.00 and gave the stock a neutral rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Playtika presently has an average rating of Hold and an average target price of $10.12.

Playtika Trading Down 0.5 %

Shares of NASDAQ PLTK opened at $7.63 on Tuesday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.12 and a beta of 0.85. Playtika has a one year low of $6.25 and a one year high of $12.48. The business has a fifty day simple moving average of $8.14 and a 200 day simple moving average of $7.65.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Playtika had a net margin of 7.96% and a negative return on equity of 94.21%. The company had revenue of $651.20 million during the quarter, compared to analysts’ expectations of $642.38 million. On average, research analysts anticipate that Playtika will post 0.66 earnings per share for the current fiscal year.

Playtika Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 21st were paid a $0.10 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.40 annualized dividend and a dividend yield of 5.24%. Playtika’s dividend payout ratio (DPR) is currently 72.73%.

Insider Activity

In other news, insider Gili Brudno sold 67,250 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $8.72, for a total value of $586,420.00. Following the transaction, the insider now directly owns 201,750 shares in the company, valued at approximately $1,759,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Playtika

Several hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC bought a new stake in shares of Playtika in the 4th quarter valued at $102,000. Raymond James & Associates increased its holdings in shares of Playtika by 14.9% in the fourth quarter. Raymond James & Associates now owns 87,097 shares of the company’s stock worth $759,000 after acquiring an additional 11,286 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Playtika by 41.9% during the fourth quarter. Pacer Advisors Inc. now owns 4,494,488 shares of the company’s stock worth $39,192,000 after purchasing an additional 1,327,596 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Playtika by 53.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 338,698 shares of the company’s stock valued at $2,953,000 after purchasing an additional 118,606 shares in the last quarter. Finally, ARK Investment Management LLC grew its position in shares of Playtika by 25.2% in the 4th quarter. ARK Investment Management LLC now owns 219,275 shares of the company’s stock valued at $1,912,000 after purchasing an additional 44,175 shares during the period. 11.94% of the stock is currently owned by institutional investors and hedge funds.

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.