Playtika (NASDAQ:PLTK) Stock Price Up 4.6% – Here’s Why

Playtika Holding Corp. (NASDAQ:PLTK)’s share price rose 4.6% during mid-day trading on Monday . The company traded as high as $7.11 and last traded at $7.08. Approximately 898,590 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 858,713 shares. The stock had previously closed at $6.77.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $11.50 price objective on shares of Playtika in a research note on Thursday, September 19th. Macquarie reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Playtika in a report on Friday, November 8th. 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 research report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.00.

Playtika Price Performance

The firm has a market capitalization of $2.63 billion, a PE ratio of 12.17, a P/E/G ratio of 1.97 and a beta of 0.88. The firm has a fifty day moving average price of $7.98 and a 200 day moving average price of $7.73.

Playtika (NASDAQ:PLTK) last released its earnings results on Thursday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $620.80 million during the quarter, compared to analysts’ expectations of $622.46 million. Playtika had a net margin of 8.52% and a negative return on equity of 144.73%. Playtika’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. On average, sell-side analysts expect that Playtika Holding Corp. will post 0.65 EPS for the current year.

Playtika Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, December 20th. This represents a $0.40 annualized dividend and a dividend yield of 5.67%. Playtika’s dividend payout ratio is 68.97%.

Insider Transactions at Playtika

In other news, major shareholder Holding Uk Ltd Playtika II sold 73,321 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.55, for a total value of $626,894.55. Following the completion of the sale, the insider now directly owns 203,065,335 shares in the company, valued at approximately $1,736,208,614.25. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 753,894 shares of company stock worth $6,239,985 in the last 90 days. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Playtika

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Playtika by 102.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company’s stock valued at $635,000 after purchasing an additional 40,604 shares during the period. Franklin Resources Inc. grew its stake in shares of Playtika by 302.6% in the third quarter. Franklin Resources Inc. now owns 60,587 shares of the company’s stock worth $454,000 after acquiring an additional 45,537 shares during the last quarter. Sanctuary Advisors LLC increased its position in Playtika by 43.6% during the third quarter. Sanctuary Advisors LLC now owns 31,809 shares of the company’s stock worth $271,000 after acquiring an additional 9,658 shares during the period. Barclays PLC raised its stake in Playtika by 4.8% during the 3rd quarter. Barclays PLC now owns 163,138 shares of the company’s stock valued at $1,291,000 after purchasing an additional 7,480 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Playtika in the 3rd quarter valued at $56,000. 11.94% of the stock is currently owned by institutional investors.

Playtika Company Profile

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.