Citigroup Has Lowered Expectations for Playtika (NASDAQ:PLTK) Stock Price

Playtika (NASDAQ:PLTK) had its price objective decreased by equities researchers at Citigroup from $4.50 to $4.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 77.38% from the company’s previous close.

A number of other equities research analysts also recently issued reports on PLTK. Roth Capital decreased their price target on shares of Playtika from $3.50 to $2.75 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group set a $3.75 price target on shares of Playtika in a report on Friday, August 7th. TD Cowen reiterated a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Wedbush raised their price target on Playtika from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley set a $4.25 price target on shares of Playtika in a research report on Monday, August 10th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.79.

Playtika Stock Up 0.7%

PLTK stock traded up $0.01 during midday trading on Thursday, hitting $2.25. The company’s stock had a trading volume of 464,011 shares, compared to its average volume of 1,631,936. Playtika has a 12 month low of $2.09 and a 12 month high of $4.42. The company has a 50 day moving average of $3.32 and a two-hundred day moving average of $3.28. The firm has a market capitalization of $860.10 million, a price-to-earnings ratio of -3.10 and a beta of 1.00.

Hedge Funds Weigh In On Playtika

Institutional investors have recently made changes to their positions in the company. Amundi lifted its position in shares of Playtika by 160.0% during the 1st quarter. Amundi now owns 51,366 shares of the company’s stock valued at $256,000 after buying an additional 31,607 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Playtika by 12.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,781 shares of the company’s stock valued at $531,000 after buying an additional 11,650 shares in the last quarter. Jane Street Group LLC grew its holdings in Playtika by 536.3% in the 1st quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock valued at $7,003,000 after buying an additional 1,141,685 shares in the last quarter. Creative Planning increased its stake in shares of Playtika by 143.3% in the 2nd quarter. Creative Planning now owns 28,089 shares of the company’s stock worth $133,000 after acquiring an additional 16,546 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Playtika by 126.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 399,067 shares of the company’s stock valued at $1,888,000 after acquiring an additional 222,913 shares during the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

About Playtika

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.