Stock Traders Buy High Volume of Playtika Call Options (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTK) saw some unusual options trading activity on Friday. Investors bought 3,500 call options on the stock. This represents an increase of approximately 1,128% compared to the average volume of 285 call options.

Institutional Investors Weigh In On Playtika

Several hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its stake in Playtika by 4.8% during the third quarter. Barclays PLC now owns 163,138 shares of the company’s stock valued at $1,291,000 after buying an additional 7,480 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Playtika by 102.7% during the third quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company’s stock valued at $635,000 after acquiring an additional 40,604 shares during the period. Versant Capital Management Inc lifted its position in shares of Playtika by 148.7% in the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after acquiring an additional 3,496 shares in the last quarter. GAMMA Investing LLC grew its position in Playtika by 146.0% during the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after purchasing an additional 2,910 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Playtika by 111.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,039 shares of the company’s stock valued at $202,000 after purchasing an additional 15,337 shares during the period. 11.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PLTK shares. Citigroup decreased their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 7th. Wedbush reissued an “outperform” rating and set a $11.50 price target on shares of Playtika in a report on Friday. Macquarie decreased their target price on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Bank of America upgraded shares of Playtika from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Finally, Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.78.

Playtika Stock Performance

Shares of NASDAQ:PLTK opened at $5.44 on Friday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.69 and a beta of 0.92. Playtika has a 1-year low of $3.97 and a 1-year high of $9.16. The company has a 50 day moving average price of $4.99 and a 200 day moving average price of $6.70.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.35%. 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.