Mor Weizer Purchases 71,321 Shares of Playtech (LON:PTEC) Stock

Playtech plc (LON:PTEC) insider Mor Weizer purchased 71,321 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of GBX 375 per share, for a total transaction of £267,453.75.

Playtech Price Performance

PTEC traded up GBX 1.80 during trading on Wednesday, reaching GBX 365. 71,807,813 shares of the company were exchanged, compared to its average volume of 12,699,473. The company has a market cap of £1.01 billion, a price-to-earnings ratio of 0.75, a P/E/G ratio of 1.28 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 24.36. The company’s 50-day moving average is GBX 367.84 and its two-hundred day moving average is GBX 315.52. Playtech plc has a 12-month low of GBX 210 and a 12-month high of GBX 447.

Playtech declared that its board has initiated a stock repurchase program on Friday, March 27th that authorizes the company to buyback 5,660,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PTEC shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research report on Friday, January 23rd. Jefferies Financial Group restated a “hold” rating and set a GBX 405 price objective on shares of Playtech in a report on Wednesday. Finally, Citigroup lifted their price target on Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a research report on Monday, March 30th.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.