Playtech (LON:PTEC) Stock Crosses Above 50 Day Moving Average – What’s Next?

Playtech plc (LON:PTEC) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 268.09 and traded as high as GBX 276.50. Playtech shares last traded at GBX 271.50, with a volume of 496,754 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Playtech to a “hold” rating and reduced their target price for the company from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Playtech from GBX 417 to GBX 433 and gave the company a “buy” rating in a report on Thursday, September 11th.

Playtech Stock Down 2.4%

The stock has a market capitalization of £766.18 million, a P/E ratio of 0.46, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The stock has a fifty day moving average price of GBX 268.09 and a 200 day moving average price of GBX 339.76.

Playtech declared that its Board of Directors has approved a stock repurchase program on Thursday, September 25th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.