Playtika (NASDAQ:PLTK) Reaches New 52-Week Low – Time to Sell?

Playtika Holding Corp. (NASDAQ:PLTK)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $2.65 and last traded at $2.6550, with a volume of 42743 shares changing hands. The stock had previously closed at $2.74.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLTK shares. The Goldman Sachs Group cut their price objective on Playtika from $4.75 to $4.25 and set a “neutral” rating for the company in a report on Monday, March 2nd. Wedbush cut shares of Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a research note on Monday, March 2nd. Wall Street Zen lowered shares of Playtika from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Citigroup reduced their target price on shares of Playtika from $7.00 to $5.50 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, Weiss Ratings downgraded shares of Playtika from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Playtika has a consensus rating of “Hold” and a consensus target price of $4.38.

Playtika Stock Performance

The stock’s 50-day moving average is $3.13 and its two-hundred day moving average is $3.59. The company has a market capitalization of $1.04 billion, a PE ratio of -5.07 and a beta of 0.88.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.96). The company had revenue of $678.80 million for the quarter, compared to the consensus estimate of $660.32 million. Playtika had a negative net margin of 7.49% and a negative return on equity of 114.29%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. On average, equities research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alpine Global Management LLC purchased a new position in Playtika during the fourth quarter valued at approximately $180,000. Invesco Ltd. lifted its holdings in Playtika by 24.4% during the fourth quarter. Invesco Ltd. now owns 35,570 shares of the company’s stock worth $141,000 after buying an additional 6,975 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Playtika by 71.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 67,710 shares of the company’s stock valued at $267,000 after purchasing an additional 28,280 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Playtika by 51.3% during the 4th quarter. Mackenzie Financial Corp now owns 575,200 shares of the company’s stock worth $2,308,000 after acquiring an additional 195,044 shares in the last quarter. Finally, Guardian Capital LP purchased a new position in Playtika in the fourth quarter worth $58,000. 11.94% of the stock is currently owned by institutional investors.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.