Playtika (NASDAQ:PLTK) Trading Up 10.8%

Shares of Playtika Holding Corp. (NASDAQ:PLTK) traded up 10.8% on Thursday . The stock traded as high as $8.63 and last traded at $8.59. 182,525 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 939,968 shares. The stock had previously closed at $7.75.

Analyst Upgrades and Downgrades

PLTK has been the topic of several recent analyst reports. Stifel Nicolaus cut their target price on shares of Playtika from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. HSBC downgraded shares of Playtika from a “buy” rating to a “hold” rating and lowered their price objective for the company from $14.90 to $8.00 in a research note on Monday, January 22nd. Wedbush reduced their price target on Playtika from $14.75 to $11.50 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Bank of America downgraded Playtika from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $11.00 to $8.00 in a report on Thursday, January 18th. Finally, Morgan Stanley cut their price target on shares of Playtika from $10.00 to $7.50 and set an “equal weight” rating on the stock in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.43.

Playtika Stock Performance

The stock’s 50-day moving average price is $7.12 and its two-hundred day moving average price is $7.72. The stock has a market capitalization of $3.30 billion, a PE ratio of 13.72, a P/E/G ratio of 1.15 and a beta of 0.79.

Playtika (NASDAQ:PLTK) last announced its earnings results on Monday, February 26th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Playtika had a net margin of 9.15% and a negative return on equity of 81.85%. The business had revenue of $637.90 million for the quarter, compared to the consensus estimate of $630.26 million. During the same period in the prior year, the business posted $0.24 EPS. Playtika’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Playtika Holding Corp. will post 0.69 earnings per share for the current fiscal year.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 22nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Thursday, March 21st. Playtika’s dividend payout ratio (DPR) is 62.50%.

Institutional Trading of Playtika

Several institutional investors have recently bought and sold shares of PLTK. UBS Group AG increased its holdings in shares of Playtika by 86.3% in the 3rd quarter. UBS Group AG now owns 289,717 shares of the company’s stock worth $2,790,000 after purchasing an additional 134,195 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Playtika by 185.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,416,137 shares of the company’s stock worth $23,267,000 after buying an additional 1,568,593 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in Playtika during the 4th quarter valued at about $102,000. Campbell & CO Investment Adviser LLC bought a new position in Playtika during the 3rd quarter valued at about $990,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Playtika in the third quarter worth approximately $966,000. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Company Profile

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.