Playtika (NASDAQ:PLTK) Shares Gap Down – Time to Sell?

Shares of Playtika Holding Corp. (NASDAQ:PLTK) gapped down before the market opened on Tuesday . The stock had previously closed at $2.92, but opened at $2.83. Playtika shares last traded at $2.8340, with a volume of 506,246 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLTK. Citigroup cut their price target on Playtika from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Friday, February 20th. The Goldman Sachs Group dropped their price objective on Playtika from $4.75 to $4.25 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Weiss Ratings lowered Playtika from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 2nd. Wall Street Zen cut Playtika from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Wedbush downgraded Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 price target for the company. in a report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.68.

Playtika Stock Down 2.9%

The firm has a fifty day simple moving average of $3.47 and a 200-day simple moving average of $3.71. The company has a market cap of $1.08 billion, a PE ratio of -5.23 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced its earnings results on Thursday, February 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.96). Playtika had a negative net margin of 7.49% and a negative return on equity of 114.29%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) earnings per share. Equities research analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Playtika

Institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. purchased a new stake in Playtika in the 2nd quarter valued at $27,000. Kestra Advisory Services LLC acquired a new position in Playtika in the fourth quarter valued at $32,000. Signaturefd LLC increased its stake in Playtika by 129.8% in the fourth quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock valued at $36,000 after purchasing an additional 5,147 shares during the period. Comerica Bank raised its holdings in shares of Playtika by 278.9% in the fourth quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after buying an additional 6,704 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC acquired a new stake in shares of Playtika during the third quarter worth about $38,000. 11.94% of the stock is 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.