Playtika Holding Corp. (NASDAQ:PLTK) Sees Significant Growth in Short Interest

Playtika Holding Corp. (NASDAQ:PLTK) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 5,150,000 shares, a growth of 16.8% from the February 13th total of 4,410,000 shares. Currently, 7.6% of the company’s stock are short sold. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is presently 4.8 days.

Playtika Stock Down 0.7 %

Shares of PLTK stock traded down $0.03 during trading hours on Wednesday, hitting $4.56. 1,688,691 shares of the company were exchanged, compared to its average volume of 894,637. Playtika has a 1 year low of $4.55 and a 1 year high of $9.16. The firm has a fifty day moving average of $6.54 and a 200 day moving average of $7.34. The firm has a market cap of $1.71 billion, a PE ratio of 7.86, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.77%. Playtika’s payout ratio is 90.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PLTK shares. Robert W. Baird restated a “neutral” rating and set a $6.00 price target (down previously from $9.00) on shares of Playtika in a research note on Friday, February 28th. Citigroup reduced their price target on shares of Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Macquarie lowered their price target on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Baird R W lowered shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Wedbush reissued an “outperform” rating and issued a $11.50 price target on shares of Playtika in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.32.

Institutional Investors Weigh In On Playtika

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in Playtika by 61.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after purchasing an additional 1,109,594 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Playtika by 8.8% in the third quarter. Pacer Advisors Inc. now owns 10,249,684 shares of the company’s stock worth $81,177,000 after acquiring an additional 829,372 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Playtika by 23,814.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after acquiring an additional 663,700 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Playtika during the 4th quarter worth $2,402,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Playtika by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock valued at $21,267,000 after purchasing an additional 326,890 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

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.