Playtech (LON:PTEC) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Playtech plc (LON:PTEC)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 336.13 and traded as low as GBX 270.68. Playtech shares last traded at GBX 273.53, with a volume of 1,230,205 shares.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group downgraded Playtech to a “hold” rating and decreased their price target for the stock from GBX 405 to GBX 240 in a report on Tuesday, November 25th.

Playtech Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The company has a market capitalization of £776.80 million, a PE ratio of 0.47, a PEG ratio of 1.28 and a beta of 1.26. The company has a 50-day moving average price of GBX 268.31 and a two-hundred day moving average price of GBX 336.13.

Playtech announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 25th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

About Playtech

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.