Handelsbanken Fonder AB Sells 4,800 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Handelsbanken Fonder AB cut its stake in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 27.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,989 shares of the company’s stock after selling 4,800 shares during the period. Handelsbanken Fonder AB’s holdings in Playtika were worth $113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in Playtika by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 23,357 shares of the company’s stock worth $225,000 after buying an additional 1,486 shares in the last quarter. 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 buying an additional 1,613 shares in the last quarter. CWM LLC increased its holdings in 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 buying an additional 2,734 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Playtika by 3.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,833 shares of the company’s stock worth $748,000 after buying an additional 2,872 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Playtika by 62.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 8,408 shares of the company’s stock worth $80,000 after buying an additional 3,225 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Playtika Price Performance

PLTK stock opened at $7.76 on Friday. Playtika Holding Corp. has a 1-year low of $6.25 and a 1-year high of $12.90. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.11 and a beta of 0.79. The business has a 50 day simple moving average of $7.07 and a two-hundred day simple moving average of $7.77.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.07). The business had revenue of $637.90 million during the quarter, compared to the consensus estimate 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 company earned $0.24 earnings per share. Sell-side analysts anticipate that Playtika Holding Corp. will post 0.69 EPS for the current fiscal year.

Playtika Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.40 annualized dividend and a dividend yield of 5.15%. Playtika’s dividend payout ratio (DPR) is 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.