Playtika (NASDAQ:PLTK) Sets New 52-Week Low – Here’s What Happened

Playtika Holding Corp. (NASDAQ:PLTK)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $4.67 and last traded at $4.74, with a volume of 919498 shares trading hands. The stock had previously closed at $5.02.

Wall Street Analyst Weigh In

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

Playtika Stock Down 3.5 %

The firm’s 50 day simple moving average is $6.73 and its 200 day simple moving average is $7.42. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.64%. Playtika’s dividend payout ratio is presently 90.91%.

Insider Activity at Playtika

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of Playtika stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.54, for a total value of $572,459.42. Following the transaction, the insider now owns 200,554,660 shares in the company, valued at approximately $1,512,182,136.40. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. KBC Group NV boosted its stake in Playtika by 19.3% in the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after purchasing an additional 1,266 shares during the period. Covestor Ltd boosted its stake in Playtika by 11.4% in the 4th quarter. Covestor Ltd now owns 14,103 shares of the company’s stock worth $98,000 after purchasing an additional 1,447 shares during the period. Sterling Capital Management LLC boosted its stake in Playtika by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after purchasing an additional 1,534 shares during the period. Choreo LLC boosted its stake in shares of Playtika by 14.9% during the 4th quarter. Choreo LLC now owns 12,485 shares of the company’s stock valued at $90,000 after buying an additional 1,619 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Playtika by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company’s stock valued at $3,726,000 after buying an additional 1,639 shares during the period. Institutional investors and hedge funds 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.