Playtika (NASDAQ:PLTK) Hits New 52-Week Low After Analyst Downgrade

Playtika Holding Corp. (NASDAQ:PLTK) shares reached a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $7.00 to $5.50. Citigroup currently has a buy rating on the stock. Playtika traded as low as $3.21 and last traded at $3.2150, with a volume of 570441 shares changing hands. The stock had previously closed at $3.47.

Other equities analysts also recently issued research reports about the company. Wedbush restated an “outperform” rating and set a $7.00 target price on shares of Playtika in a report on Friday, October 31st. Loop Capital set a $3.75 price objective on shares of Playtika in a research report on Monday, November 3rd. Wall Street Zen lowered shares of Playtika from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Weiss Ratings raised shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.56.

Institutional Trading of Playtika

A number of hedge funds and other institutional investors have recently modified their holdings of PLTK. Ameritas Investment Partners Inc. purchased a new position in Playtika during the 2nd quarter valued at about $27,000. Kestra Advisory Services LLC bought a new position in shares of Playtika during the fourth quarter valued at approximately $32,000. Comerica Bank lifted its holdings in shares of Playtika by 278.9% during the fourth quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after purchasing an additional 6,704 shares during the last quarter. Signaturefd LLC boosted its position in shares of Playtika by 129.8% in the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock worth $36,000 after purchasing an additional 5,147 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Playtika in the 4th quarter worth approximately $41,000. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Trading Down 9.8%

The company has a market cap of $1.18 billion, a PE ratio of 13.04, a P/E/G ratio of 1.97 and a beta of 0.84. The firm has a 50 day moving average of $3.69 and a two-hundred day moving average of $3.76.

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.