Infini Capital Management Ltd Reduces Holdings in Playtika Holding Corp. $PLTK

Infini Capital Management Ltd lessened its stake in Playtika Holding Corp. (NASDAQ:PLTK) by 18.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,150,890 shares of the company’s stock after selling 252,425 shares during the period. Playtika accounts for approximately 3.6% of Infini Capital Management Ltd’s investment portfolio, making the stock its 4th largest holding. Infini Capital Management Ltd’s holdings in Playtika were worth $5,444,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC raised its stake in Playtika by 366.2% in the first quarter. Acadian Asset Management LLC now owns 1,547,829 shares of the company’s stock valued at $7,989,000 after buying an additional 1,215,843 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Playtika by 143.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 719,263 shares of the company’s stock valued at $3,719,000 after purchasing an additional 423,738 shares during the last quarter. Vanguard Group Inc. boosted its stake in Playtika by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 3,610,729 shares of the company’s stock worth $18,667,000 after purchasing an additional 137,482 shares in the last quarter. Algert Global LLC purchased a new stake in Playtika during the 1st quarter worth approximately $478,000. Finally, Wolverine Asset Management LLC increased its stake in Playtika by 98.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 256,015 shares of the company’s stock valued at $1,211,000 after purchasing an additional 126,990 shares in the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTK has been the subject of several research reports. Wall Street Zen upgraded shares of Playtika from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Wedbush reiterated an “outperform” rating and set a $7.00 price target on shares of Playtika in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Playtika in a report on Tuesday. UBS Group decreased their target price on Playtika from $5.50 to $4.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Loop Capital set a $3.75 target price on Playtika in a research report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Playtika presently has an average rating of “Hold” and a consensus price target of $6.00.

Playtika Stock Performance

NASDAQ PLTK opened at $4.23 on Friday. The firm has a market capitalization of $1.59 billion, a P/E ratio of 17.63, a PEG ratio of 3.98 and a beta of 0.84. The stock has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $4.12. Playtika Holding Corp. has a fifty-two week low of $3.31 and a fifty-two week high of $8.21.

Playtika (NASDAQ:PLTK) last issued its earnings results on Thursday, November 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $674.60 million for the quarter, compared to the consensus estimate of $669.60 million. Playtika had a negative return on equity of 114.44% and a net margin of 3.16%.The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend is Friday, December 26th. Playtika’s payout ratio is 166.67%.

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.