Playtika Holding Corp. (NASDAQ:PLTK) Sees Significant Growth in Short Interest

Playtika Holding Corp. (NASDAQ:PLTK) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 9,763,358 shares, an increase of 18.2% from the February 12th total of 8,261,730 shares. Based on an average trading volume of 2,040,172 shares, the short-interest ratio is presently 4.8 days. Currently, 2.7% of the shares of the company are sold short. Currently, 2.7% of the shares of the company are sold short. Based on an average trading volume of 2,040,172 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Playtika

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. purchased a new position in Playtika during the second quarter worth approximately $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Playtika in the fourth quarter valued at approximately $32,000. Signaturefd LLC increased its position in shares of 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 buying an additional 5,147 shares in the last quarter. Comerica Bank raised its stake in shares of Playtika by 278.9% during the 4th quarter. Comerica Bank now owns 9,108 shares of the company’s stock worth $36,000 after buying an additional 6,704 shares during the period. Finally, Jackson Thornton Wealth Management LLC purchased a new position in shares of Playtika during the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Stock Down 1.4%

Shares of NASDAQ:PLTK traded down $0.04 during trading on Monday, hitting $2.81. 1,665,353 shares of the stock traded hands, compared to its average volume of 1,938,585. The company has a fifty day moving average price of $3.37 and a two-hundred day moving average price of $3.68. Playtika has a 52-week low of $2.67 and a 52-week high of $5.59. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -5.20 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced its quarterly 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 return on equity of 114.29% and a negative net margin of 7.49%.During the same quarter in the previous year, the company earned ($0.04) EPS. Playtika’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Playtika will post 0.65 EPS for the current fiscal year.

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.