Playtech (LON:PTEC) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Playtech plc (LON:PTEC)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 337.60 and traded as high as GBX 377.60. Playtech shares last traded at GBX 371.20, with a volume of 307,065 shares.

Analyst Upgrades and Downgrades

PTEC has been the subject of several research analyst reports. Jefferies Financial Group reissued a “hold” rating and set a GBX 405 price objective on shares of Playtech in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Playtech from GBX 443 to GBX 460 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Citigroup upgraded Playtech to a “buy” rating in a report on Friday, July 10th.

Playtech Price Performance

The company has a market cap of £1.03 billion, a price-to-earnings ratio of 0.76, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. The company has a current ratio of 1.42, a quick ratio of 1.09 and a debt-to-equity ratio of 24.36. The company has a fifty day moving average price of GBX 341.49 and a two-hundred day moving average price of GBX 337.60.

Playtech declared that its Board of Directors has approved a stock repurchase program on Friday, March 27th that permits the company to repurchase 5,660,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Playtech news, insider Chris McGinnis purchased 27,080 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of GBX 372 per share, with a total value of £100,737.60. Also, insider Mor Weizer acquired 71,321 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of GBX 375 per share, with a total value of £267,453.75. 0.82% of the stock is owned by insiders.

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.