Raymond James & Associates Grows Position in Playtika Holding Corp. (NASDAQ:PLTK)

Raymond James & Associates boosted its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 14.9% during the 4th quarter, Holdings Channel reports. The fund owned 87,097 shares of the company’s stock after buying an additional 11,286 shares during the period. Raymond James & Associates’ holdings in Playtika were worth $759,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLTK. CWM LLC lifted its position in shares of Playtika by 1,215.1% in the 3rd quarter. CWM LLC now owns 2,959 shares of the company’s stock worth $28,000 after purchasing an additional 2,734 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Playtika during the third quarter worth $33,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Playtika by 62.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 8,408 shares of the company’s stock valued at $80,000 after acquiring an additional 3,225 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Playtika in the 4th quarter valued at $102,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Playtika in the 3rd quarter worth $109,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Price Performance

NASDAQ PLTK opened at $7.05 on Wednesday. The stock’s fifty day moving average price is $7.11 and its 200 day moving average price is $7.86. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.02 and a beta of 0.84. Playtika Holding Corp. has a 1 year low of $6.25 and a 1 year high of $12.90.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.07). The firm had revenue of $637.90 million during the quarter, compared to analysts’ expectations of $630.26 million. Playtika had a negative return on equity of 81.85% and a net margin of 9.15%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. Research analysts expect that Playtika Holding Corp. will post 0.69 earnings per share for the current year.

Playtika Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.67%. The ex-dividend date was Thursday, March 21st. Playtika’s dividend payout ratio (DPR) is currently 62.50%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PLTK shares. The Goldman Sachs Group dropped their price objective on Playtika from $11.00 to $8.75 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Morgan Stanley lowered their price target on shares of Playtika from $10.00 to $7.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 27th. Bank of America lowered shares of Playtika from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $11.00 to $8.00 in a research note on Thursday, January 18th. HSBC downgraded shares of Playtika from a “buy” rating to a “hold” rating and lowered their target price for the company from $14.90 to $8.00 in a research note on Monday, January 22nd. Finally, Wedbush reduced their price target on Playtika from $14.75 to $11.50 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.43.

Playtika 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.