Playtika Holding Corp. (NASDAQ:PLTK) Receives $8.09 Consensus PT from Brokerages

Playtika Holding Corp. (NASDAQ:PLTK) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $7.78.

Several equities research analysts recently weighed in on PLTK shares. Morgan Stanley cut their price objective on shares of Playtika from $7.25 to $5.75 and set an “equal weight” rating for the company in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $11.50 price target on shares of Playtika in a report on Wednesday, February 26th. Baird R W cut shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird restated a “neutral” rating and set a $6.00 target price (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Finally, Macquarie reduced their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th.

Institutional Trading of Playtika

A number of institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC purchased a new stake in Playtika in the first quarter valued at approximately $311,000. SummerHaven Investment Management LLC grew its holdings in shares of Playtika by 2.0% in the first quarter. SummerHaven Investment Management LLC now owns 103,334 shares of the company’s stock worth $534,000 after purchasing an additional 2,006 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Playtika by 5.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,416 shares of the company’s stock valued at $392,000 after acquiring an additional 2,886 shares during the period. Mackenzie Financial Corp increased its holdings in Playtika by 314.3% during the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock valued at $344,000 after purchasing an additional 37,625 shares during the period. Finally, Neo Ivy Capital Management raised its holdings in shares of Playtika by 756.9% during the fourth quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock valued at $423,000 after acquiring an additional 53,849 shares in the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Price Performance

PLTK opened at $4.93 on Thursday. The company has a market capitalization of $1.85 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The business has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $6.86. Playtika has a 1 year low of $3.97 and a 1 year high of $9.16.

Playtika Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.11%. The ex-dividend date of this dividend was Friday, March 21st. Playtika’s payout ratio is 90.91%.

About Playtika

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.