Playtika (NASDAQ:PLTK) Hits New 12-Month Low – What’s Next?

Playtika Holding Corp. (NASDAQ:PLTK) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $3.39 and last traded at $3.45, with a volume of 15155 shares changing hands. The stock had previously closed at $3.49.

Wall Street Analysts Forecast Growth

PLTK has been the subject of a number of analyst reports. Wedbush cut their price objective on Playtika from $11.50 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Wall Street Zen raised Playtika from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, UBS Group cut their price objective on Playtika from $5.50 to $4.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Playtika currently has an average rating of “Hold” and a consensus target price of $6.66.

Playtika Price Performance

The stock has a 50-day moving average of $3.90 and a 200 day moving average of $4.53. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.21 and a beta of 0.84.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.13). The firm had revenue of $696.00 million during the quarter, compared to analyst estimates of $706.03 million. Playtika had a negative return on equity of 83.90% and a net margin of 3.23%.Playtika’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. Playtika has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 11.1%. The ex-dividend date is Friday, September 26th. Playtika’s payout ratio is presently 166.67%.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its position in shares of Playtika by 65.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock valued at $29,630,000 after purchasing an additional 2,511,228 shares during the period. Acadian Asset Management LLC grew its position in shares of Playtika by 366.2% in the 1st quarter. Acadian Asset Management LLC now owns 1,547,829 shares of the company’s stock valued at $7,989,000 after purchasing an additional 1,215,843 shares during the period. Jane Street Group LLC grew its position in shares of Playtika by 536.3% in the 1st quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock valued at $7,003,000 after purchasing an additional 1,141,685 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Playtika by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock valued at $17,541,000 after purchasing an additional 595,494 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Playtika by 143.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 719,263 shares of the company’s stock valued at $3,719,000 after acquiring an additional 423,738 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Playtika Company 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.