Playtika (NASDAQ:PLTK) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Playtika (NASDAQ:PLTK) in a report released on Thursday, Benzinga reports. They currently have a $11.50 price target on the stock.

Several other research analysts have also issued reports on PLTK. Roth Mkm cut their price target on Playtika from $9.00 to $8.00 and set a neutral rating on the stock in a report on Thursday, August 8th. UBS Group initiated coverage on Playtika in a report on Monday, June 24th. They issued a neutral rating and a $8.50 target price on the stock. Morgan Stanley lifted their price target on shares of Playtika from $7.40 to $8.25 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. Finally, Macquarie downgraded shares of Playtika from an outperform rating to a neutral rating and set a $9.00 price objective on the stock. in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $9.29.

Playtika Stock Performance

Shares of PLTK stock opened at $7.82 on Thursday. Playtika has a fifty-two week low of $6.25 and a fifty-two week high of $10.28. The stock has a 50 day simple moving average of $7.46 and a two-hundred day simple moving average of $7.63. The company has a market cap of $2.91 billion, a P/E ratio of 14.22, a PEG ratio of 1.01 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last released its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The company had revenue of $627.00 million for the quarter, compared to the consensus estimate of $640.27 million. During the same quarter in the previous year, the company earned $0.21 EPS. Playtika’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts predict that Playtika will post 0.73 earnings per share for the current year.

Playtika Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Friday, September 20th. Playtika’s payout ratio is 72.73%.

Institutional Investors Weigh In On Playtika

A number of hedge funds and other institutional investors have recently bought and sold shares of PLTK. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Playtika during the second quarter valued at approximately $31,000. Versant Capital Management Inc bought a new stake in Playtika in the 2nd quarter worth approximately $36,000. Acadian Asset Management LLC purchased a new position in shares of Playtika during the second quarter worth approximately $43,000. Headlands Technologies LLC lifted its holdings in shares of Playtika by 648.8% in the 2nd quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock worth $53,000 after acquiring an additional 5,794 shares during the last quarter. Finally, Commerce Bank bought a new position in shares of Playtika during the 4th quarter valued at $88,000. Institutional investors own 11.94% of the company’s stock.

About Playtika

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.