Playtika (NASDAQ:PLTK) Stock Gets Price Target Reduction from Citigroup

Playtika (NASDAQ:PLTK) had its price target trimmed by Citigroup from $3.50 to $3.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Wall Street Zen cut Playtika from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Playtika in a report on Wednesday, August 26th. Roth Capital cut their price target on shares of Playtika from $3.50 to $2.75 and set a “neutral” rating on the stock in a report on Monday, August 31st. Morgan Stanley set a $4.25 price target on shares of Playtika in a research report on Monday, August 10th. Finally, Wedbush boosted their price objective on shares of Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.58.

Playtika Price Performance

Playtika stock opened at $1.98 on Thursday. The stock’s 50-day moving average is $2.21 and its 200-day moving average is $3.08. The company has a market cap of $755.21 million, a price-to-earnings ratio of -2.71 and a beta of 1.07. Playtika has a 12 month low of $1.89 and a 12 month high of $4.42.

Institutional Trading of Playtika

Several institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Playtika in the third quarter worth about $52,000. International Assets Investment Management LLC raised its stake in Playtika by 1,170.3% during the third quarter. International Assets Investment Management LLC now owns 152,651 shares of the company’s stock valued at $327,000 after buying an additional 140,634 shares in the last quarter. SummerHaven Investment Management LLC acquired a new stake in Playtika during the third quarter valued at approximately $217,000. Williams & Novak Wealth Management LLC lifted its holdings in Playtika by 12.0% during the 3rd quarter. Williams & Novak Wealth Management LLC now owns 110,035 shares of the company’s stock worth $235,000 after buying an additional 11,830 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Playtika by 153.0% during the 2nd quarter. Tidal Investments LLC now owns 353,984 shares of the company’s stock worth $1,317,000 after buying an additional 214,093 shares during the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

About Playtika

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and web games. Its business focuses on social casino, casual, and other interactive gaming experiences that generate revenue through in-game purchases and advertising.

Playtika’s portfolio has included widely recognized titles such as Slotomania, Bingo Blitz, House of Fun, Caesars Slots, and World Series of Poker. The company uses data analytics, live-operations capabilities, and ongoing content updates to engage players and support the long-term performance of its games.

Founded in 2010, Playtika initially helped pioneer free-to-play social casino gaming on social networks and later expanded into mobile platforms.