Playtika Holding Corp. (NASDAQ:PLTK) Sees Significant Growth in Short Interest

Playtika Holding Corp. (NASDAQ:PLTK) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 6,670,000 shares, an increase of 29.5% from the February 28th total of 5,150,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is currently 4.2 days. Approximately 9.9% of the company’s shares are short sold.

Playtika Stock Performance

Shares of NASDAQ:PLTK traded down $0.03 during trading on Monday, reaching $5.17. 1,859,069 shares of the stock were exchanged, compared to its average volume of 1,767,866. Playtika has a 12-month low of $3.97 and a 12-month high of $9.15. The firm’s 50-day moving average price is $6.18 and its 200 day moving average price is $7.19. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.74%. The ex-dividend date is Friday, March 21st. Playtika’s payout ratio is currently 90.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Baird R W lowered shares of Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Bank of America raised Playtika from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $6.50 in a research report on Wednesday, March 26th. Wedbush reiterated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Wednesday, February 26th. Citigroup decreased their price target on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, Macquarie cut their price objective 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.09.

Hedge Funds Weigh In On Playtika

Several hedge funds and other institutional investors have recently made changes to their positions in PLTK. Arrowstreet Capital Limited Partnership raised its position in Playtika by 61.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock valued at $20,290,000 after purchasing an additional 1,109,594 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Playtika by 23,814.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after buying an additional 663,700 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Playtika during the 4th quarter valued at about $2,402,000. The Manufacturers Life Insurance Company boosted its holdings in Playtika by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock worth $21,267,000 after acquiring an additional 326,890 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in Playtika by 76.0% in the 4th quarter. Quantinno Capital Management LP now owns 692,975 shares of the company’s stock worth $4,809,000 after acquiring an additional 299,278 shares during the period. Institutional investors and hedge funds 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.