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

Allspring Global Investments Holdings LLC reduced its position in Playtika Holding Corp. (NASDAQ:PLTK) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 523,354 shares of the company’s stock after selling 143,133 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of Playtika worth $2,706,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PLTK. Arrowstreet Capital Limited Partnership increased its stake in shares of Playtika by 61.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after acquiring an additional 1,109,594 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Playtika during the 4th quarter worth about $2,402,000. Quantinno Capital Management LP increased its position in shares of Playtika by 76.0% during the 4th quarter. Quantinno Capital Management LP now owns 692,975 shares of the company’s stock worth $4,809,000 after purchasing an additional 299,278 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Playtika by 9.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock worth $20,312,000 after purchasing an additional 241,658 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of Playtika by 123.6% during the 4th quarter. Edgestream Partners L.P. now owns 415,901 shares of the company’s stock worth $2,886,000 after purchasing an additional 229,933 shares during the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

Playtika Price Performance

Shares of Playtika stock opened at $4.97 on Monday. The business has a 50-day moving average of $4.88 and a 200 day moving average of $5.65. Playtika Holding Corp. has a 12 month low of $3.97 and a 12 month high of $8.80. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.32 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Playtika had a net margin of 5.37% and a negative return on equity of 149.09%. The firm had revenue of $706.00 million for the quarter, compared to analysts’ expectations of $699.67 million. During the same quarter last year, the business earned $0.14 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 23rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.06%. The ex-dividend date is Monday, June 23rd. Playtika’s payout ratio is presently 105.26%.

Analysts Set New Price Targets

PLTK has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Playtika from $7.25 to $5.75 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Wedbush raised Playtika to a “strong-buy” rating in a research report on Tuesday, July 1st. Finally, Bank of America raised Playtika from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.68.

Insider Activity

In other news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of Playtika stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $4.70, for a total value of $1,828,549.10. Following the completion of the transaction, the insider owned 199,510,511 shares in the company, valued at approximately $937,699,401.70. This trade represents a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 739,922 shares of company stock valued at $3,548,194. Company insiders own 4.80% of the company’s stock.

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.