Playtika Holding Corp. (NASDAQ:PLTK) Receives Average Recommendation of “Hold” from Analysts

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have earned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $14.55.

A number of equities analysts recently weighed in on the company. Credit Suisse Group reissued an “outperform” rating and issued a $19.00 price target on shares of Playtika in a research note on Wednesday, August 9th. Wells Fargo & Company began coverage on Playtika in a research report on Tuesday, June 27th. They set an “equal weight” rating and a $12.00 price objective for the company. HSBC began coverage on Playtika in a research report on Tuesday, July 25th. They set a “buy” rating and a $15.80 price objective for the company. Bank of America upgraded Playtika from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $13.00 in a research report on Friday, July 7th. Finally, Wedbush restated an “outperform” rating and set a $14.75 price objective on shares of Playtika in a research report on Tuesday, August 8th.

Playtika Trading Up 2.3 %

Shares of PLTK opened at $10.45 on Friday. The business’s 50-day moving average price is $10.78 and its 200 day moving average price is $10.76. The stock has a market capitalization of $3.83 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.18 and a beta of 0.88. Playtika has a 1-year low of $7.81 and a 1-year high of $12.90.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $642.80 million for the quarter, compared to analysts’ expectations of $651.25 million. Playtika had a negative return on equity of 86.29% and a net margin of 12.24%. Playtika’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, research analysts predict that Playtika will post 0.86 earnings per share for the current year.

Insider Activity

In related news, major shareholder On Chau sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $11.89, for a total value of $4,756,000.00. Following the completion of the sale, the insider now directly owns 79,910,506 shares in the company, valued at approximately $950,135,916.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Playtika

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTK. Harvest Fund Management Co. Ltd acquired a new stake in Playtika in the 1st quarter worth approximately $38,000. Captrust Financial Advisors lifted its holdings in Playtika by 784.7% in the 2nd quarter. Captrust Financial Advisors now owns 3,362 shares of the company’s stock worth $45,000 after purchasing an additional 2,982 shares during the last quarter. Amundi increased its position in Playtika by 4,125.9% in the 4th quarter. Amundi now owns 6,212 shares of the company’s stock worth $59,000 after buying an additional 6,065 shares during the period. Wells Fargo & Company MN increased its position in Playtika by 72.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,960 shares of the company’s stock worth $76,000 after buying an additional 3,776 shares during the period. Finally, Covestor Ltd increased its position in Playtika by 852.3% in the 2nd quarter. Covestor Ltd now owns 8,361 shares of the company’s stock worth $97,000 after buying an additional 7,483 shares during the period. 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 and internationally. The company owns a portfolio of casual and casino-themed games. It distributes its games to the end customer through various web and mobile platforms, such as Apple, Facebook, Google, and other web and mobile platforms and direct-to-consumer platforms.