Playtika (NASDAQ:PLTK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Playtika (NASDAQ:PLTK) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other research analysts also recently commented on the company. Morgan Stanley decreased their price objective on Playtika from $7.25 to $5.75 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Wedbush decreased their price objective on Playtika from $11.50 to $7.00 and set an “outperform” rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.04.

Playtika Stock Performance

Shares of NASDAQ:PLTK opened at $3.78 on Friday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.02 and a beta of 0.85. The stock’s 50-day simple moving average is $4.65 and its two-hundred day simple moving average is $5.21. Playtika has a 52-week low of $3.66 and a 52-week high of $8.80.

Playtika (NASDAQ:PLTK) last announced its earnings results on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.13). The firm had revenue of $696.00 million during the quarter, compared to analysts’ expectations of $706.03 million. Playtika had a negative return on equity of 78.88% and a net margin of 3.23%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, equities analysts forecast that Playtika will post 0.65 earnings per share for the current fiscal year.

Playtika Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Friday, September 26th. Playtika’s dividend payout ratio (DPR) is 166.67%.

Insider Transactions at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of Playtika stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $4.77, for a total transaction of $719,645.13. Following the sale, the insider owned 199,359,642 shares of the company’s stock, valued at approximately $950,945,492.34. This trade represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 739,922 shares of company stock worth $3,548,194. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of Playtika

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in Playtika by 117.1% during the 1st quarter. Allworth Financial LP now owns 4,996 shares of the company’s stock valued at $26,000 after purchasing an additional 2,695 shares during the period. Sterling Capital Management LLC raised its stake in Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after purchasing an additional 1,534 shares during the period. Quarry LP bought a new stake in Playtika during the 1st quarter valued at approximately $29,000. US Bancorp DE raised its stake in Playtika by 280.9% during the 1st quarter. US Bancorp DE now owns 6,707 shares of the company’s stock valued at $35,000 after purchasing an additional 4,946 shares during the period. Finally, Brooklyn Investment Group raised its stake in Playtika by 15,890.5% during the 1st quarter. Brooklyn Investment Group now owns 6,716 shares of the company’s stock valued at $35,000 after purchasing an additional 6,674 shares during the period. Institutional investors own 11.94% 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.