Allspring Global Investments Holdings LLC Boosts Holdings in Playtika Holding Corp. (NASDAQ:PLTK)

Allspring Global Investments Holdings LLC raised its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 33.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 71,210 shares of the company’s stock after acquiring an additional 17,978 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Playtika were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PLTK. CWM LLC raised its stake in shares of Playtika by 1,215.1% in the third quarter. CWM LLC now owns 2,959 shares of the company’s stock worth $28,000 after buying an additional 2,734 shares during the period. Quent Capital LLC increased its holdings in Playtika by 109.1% in the 4th quarter. Quent Capital LLC now owns 3,092 shares of the company’s stock worth $27,000 after acquiring an additional 1,613 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Playtika during the 3rd quarter worth approximately $33,000. International Assets Investment Management LLC lifted its holdings in Playtika by 772.0% during the fourth quarter. International Assets Investment Management LLC now owns 3,924 shares of the company’s stock valued at $34,000 after purchasing an additional 3,474 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Playtika by 62.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 8,408 shares of the company’s stock worth $80,000 after purchasing an additional 3,225 shares during the period. 11.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PLTK has been the topic of several recent analyst reports. Wedbush decreased their price objective on shares of Playtika from $14.75 to $11.50 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. The Goldman Sachs Group decreased their price target on Playtika from $11.00 to $8.75 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Stifel Nicolaus dropped their price objective on Playtika from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Bank of America cut Playtika from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $11.00 to $8.00 in a research report on Thursday, January 18th. Finally, Morgan Stanley dropped their price target on Playtika from $10.00 to $7.50 and set an “equal weight” rating for the company in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.43.

Playtika Price Performance

NASDAQ PLTK opened at $7.05 on Friday. Playtika Holding Corp. has a 1-year low of $6.25 and a 1-year high of $12.90. The business has a 50 day simple moving average of $7.09 and a two-hundred day simple moving average of $7.85. The stock has a market capitalization of $2.61 billion, a PE ratio of 11.02, a P/E/G ratio of 1.04 and a beta of 0.84.

Playtika (NASDAQ:PLTK) last posted its earnings results on Monday, February 26th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Playtika had a net margin of 9.15% and a negative return on equity of 81.85%. The business had revenue of $637.90 million during the quarter, compared to analysts’ expectations of $630.26 million. During the same period last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Playtika Holding Corp. will post 0.69 EPS for the current fiscal year.

Playtika Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were paid 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 is currently 62.50%.

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.