Playtika (NASDAQ:PLTK) Trading Up 6.9% – Here’s Why

Playtika Holding Corp. (NASDAQ:PLTK) shares rose 6.9% on Monday . The stock traded as high as $4.27 and last traded at $4.29. Approximately 208,464 shares traded hands during trading, a decline of 78% from the average daily volume of 967,841 shares. The stock had previously closed at $4.01.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLTK. Robert W. Baird reissued a “neutral” rating and issued a $6.00 price objective (down previously from $9.00) on shares of Playtika in a report on Friday, February 28th. Macquarie lowered their price target on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Wedbush restated an “outperform” rating and issued a $11.50 price target on shares of Playtika in a research note on Wednesday, February 26th. Finally, Citigroup dropped their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Playtika has an average rating of “Hold” and an average price target of $8.32.

Playtika Price Performance

The firm has a fifty day moving average of $6.39 and a 200 day moving average of $7.27. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.39%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s payout ratio is currently 90.91%.

Institutional Trading of Playtika

Several hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in Playtika by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after purchasing an additional 1,534 shares during the period. GAMMA Investing LLC grew its stake in shares of Playtika by 146.0% in the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock valued at $34,000 after buying an additional 2,910 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Playtika by 148.7% during the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after acquiring an additional 3,496 shares during the period. Neo Ivy Capital Management purchased a new stake in Playtika during the third quarter worth about $56,000. Finally, R Squared Ltd purchased a new stake in Playtika during the 4th quarter worth approximately $57,000. Hedge funds and other 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.