Playtika (NASDAQ:PLTK) Hits New 1-Year Low – Time to Sell?

Playtika Holding Corp. (NASDAQ:PLTK) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.61 and last traded at $2.6150, with a volume of 1486048 shares trading hands. The stock had previously closed at $2.80.

Analyst Ratings Changes

A number of research analysts have commented on the stock. The Goldman Sachs Group set a $3.75 price objective on shares of Playtika in a research note on Friday. Wall Street Zen raised shares of Playtika from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley set a $4.25 price target on Playtika in a research note on Monday. TD Cowen reissued a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Finally, Roth Capital upped their price objective on Playtika from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.11.

Playtika Price Performance

The company has a market capitalization of $978.34 million, a price-to-earnings ratio of -3.49 and a beta of 1.09. The stock’s fifty day simple moving average is $3.65 and its two-hundred day simple moving average is $3.42.

Institutional Investors Weigh In On Playtika

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Playtika by 65.7% in the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock valued at $29,630,000 after acquiring an additional 2,511,228 shares during the period. BlackRock Inc. acquired a new position in Playtika during the 2nd quarter valued at about $22,230,000. Arrowstreet Capital Limited Partnership boosted its stake in Playtika by 20.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock valued at $15,455,000 after purchasing an additional 679,564 shares during the period. The Manufacturers Life Insurance Company grew its position in Playtika by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock worth $17,541,000 after purchasing an additional 595,494 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Playtika by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,191,732 shares of the company’s stock worth $12,416,000 after purchasing an additional 432,060 shares during the last quarter. Institutional investors and hedge funds own 11.94% of the company’s stock.

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.