Playtech (LON:PTEC) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Playtech plc (LON:PTEC) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 312 and traded as high as GBX 369.80. Playtech shares last traded at GBX 351.20, with a volume of 1,259,341 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PTEC shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Jefferies Financial Group reiterated a “hold” rating and set a GBX 405 price objective on shares of Playtech in a research note on Thursday, April 9th. Finally, Citigroup lifted their price objective on shares of Playtech from GBX 355 to GBX 400 and gave the company a “buy” rating in a research note on Monday, March 30th.

Playtech Trading Down 0.3%

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 business’s 50 day moving average is GBX 368.45 and its 200-day moving average is GBX 312. The firm has a market cap of £987.18 million, a P/E ratio of 0.72, a price-to-earnings-growth ratio of 1.28 and a beta of 0.63.

Playtech announced that its Board of Directors has initiated a share repurchase program on Friday, March 27th that authorizes the company to repurchase 5,660,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.