Playtika (NASDAQ:PLTK) Shares Down 5.4% – Should You Sell?

Playtika Holding Corp. (NASDAQ:PLTK)’s share price traded down 5.4% during mid-day trading on Monday . The company traded as low as $2.39 and last traded at $2.3750. Approximately 85,154 shares traded hands during trading, a decline of 95% from the average session volume of 1,627,242 shares. The stock had previously closed at $2.51.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLTK. TD Cowen restated a “buy” rating on shares of Playtika in a research report on Tuesday, June 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Playtika in a research note on Friday, May 29th. The Goldman Sachs Group set a $3.75 price target on Playtika in a report on Friday, August 7th. Roth Capital boosted their price objective on Playtika from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Playtika from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.11.

Playtika Trading Down 7.8%

The company has a 50 day moving average price of $3.60 and a 200 day moving average price of $3.39. The company has a market capitalization of $882.99 million, a price-to-earnings ratio of -3.17 and a beta of 1.09.

Institutional Trading of Playtika

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTK. Kestra Advisory Services LLC bought a new stake in Playtika during the 4th quarter worth about $32,000. Comerica Bank lifted its position in Playtika by 278.9% during the 4th quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after purchasing an additional 6,704 shares during the period. Independent Financial Group LLC bought a new position in shares of Playtika in the 1st quarter valued at about $28,000. ProShare Advisors LLC bought a new position in shares of Playtika in the 4th quarter valued at about $41,000. Finally, Keynote Financial Services LLC acquired a new stake in shares of Playtika during the 4th quarter worth approximately $41,000. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.