Wells Fargo & Company Cuts Playtika (NASDAQ:PLTK) Price Target to $9.50

Playtika (NASDAQ:PLTK) had its price target cut by Wells Fargo & Company from $11.00 to $9.50 in a report issued on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also issued reports on PLTK. Wedbush reissued an outperform rating and issued a $14.75 price target on shares of Playtika in a report on Tuesday, August 8th. Credit Suisse Group reaffirmed an outperform rating and issued a $19.00 target price on shares of Playtika in a research note on Wednesday, August 9th. Morgan Stanley reduced their target price on shares of Playtika from $11.00 to $10.00 and set an equal weight rating for the company in a research note on Thursday. Finally, HSBC initiated coverage on shares of Playtika in a research note on Tuesday, July 25th. They issued a buy rating and a $15.80 target price for the company. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Playtika presently has an average rating of Hold and a consensus price target of $13.91.

Playtika Stock Up 2.6 %

Shares of PLTK stock opened at $7.86 on Thursday. Playtika has a 12-month low of $7.58 and a 12-month high of $12.90. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.86. The firm has a fifty day moving average of $9.28 and a 200-day moving average of $10.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in Playtika by 47.8% in the 4th quarter. AQR Capital Management LLC now owns 6,704,950 shares of the company’s stock valued at $55,450,000 after buying an additional 2,168,206 shares during the last quarter. LSV Asset Management grew its stake in Playtika by 219.3% in the 3rd quarter. LSV Asset Management now owns 4,603,513 shares of the company’s stock valued at $44,332,000 after buying an additional 3,161,580 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Playtika by 19.1% during the 1st quarter. Pacer Advisors Inc. now owns 2,299,879 shares of the company’s stock worth $25,897,000 after purchasing an additional 369,621 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Playtika by 31.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,152,600 shares of the company’s stock worth $24,970,000 after purchasing an additional 512,600 shares in the last quarter. Finally, Woodline Partners LP grew its position in shares of Playtika by 219.9% during the 2nd quarter. Woodline Partners LP now owns 1,768,942 shares of the company’s stock worth $20,520,000 after purchasing an additional 1,215,892 shares in the last quarter. Institutional investors and hedge funds own 11.94% of the company’s stock.

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.