Playtika Holding Corp. (NASDAQ:PLTK) Receives $9.29 Average Target Price from Analysts

Playtika Holding Corp. (NASDAQ:PLTK) has been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $9.29.

Several equities research analysts have commented on PLTK shares. Macquarie lowered Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Thursday, June 13th. UBS Group initiated coverage on Playtika in a report on Monday, June 24th. They issued a “neutral” rating and a $8.50 price target for the company. Morgan Stanley raised their price objective on Playtika from $7.40 to $8.25 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Wedbush reissued an “outperform” rating and issued a $11.50 price target on shares of Playtika in a report on Thursday, September 19th. Finally, Roth Mkm decreased their price objective on shares of Playtika from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Institutional Trading of Playtika

Several large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Playtika by 19.7% during the second quarter. Pacer Advisors Inc. now owns 9,420,312 shares of the company’s stock worth $74,138,000 after acquiring an additional 1,552,606 shares during the last quarter. AQR Capital Management LLC raised its holdings in Playtika by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 7,836,383 shares of the company’s stock valued at $61,672,000 after buying an additional 3,132,272 shares during the period. LSV Asset Management lifted its position in Playtika by 3.4% in the first quarter. LSV Asset Management now owns 7,756,485 shares of the company’s stock valued at $54,683,000 after buying an additional 256,353 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Playtika by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,566,049 shares of the company’s stock valued at $25,141,000 after acquiring an additional 76,948 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Playtika by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,106,345 shares of the company’s stock valued at $16,577,000 after acquiring an additional 32,802 shares during the period. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Stock Performance

Shares of PLTK stock opened at $7.92 on Thursday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.62 and a beta of 0.85. Playtika has a 52-week low of $6.25 and a 52-week high of $9.87. The stock has a 50 day moving average price of $7.46 and a 200 day moving average price of $7.67.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The firm had revenue of $627.00 million for the quarter, compared to the consensus estimate of $640.27 million. During the same quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Playtika will post 0.73 EPS for the current year.

Playtika Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 20th. This represents a $0.40 dividend on an annualized basis and a yield of 5.05%. Playtika’s payout ratio is 72.73%.

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.