Morgan Stanley Raises Playtika (NASDAQ:PLTK) Price Target to $8.25

Playtika (NASDAQ:PLTK) had its price target boosted by Morgan Stanley from $7.40 to $8.25 in a research note released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. Roth Mkm lifted their price objective on shares of Playtika from $8.00 to $9.00 and gave the company a neutral rating in a research report on Friday, May 10th. UBS Group assumed coverage on shares of Playtika in a research report on Monday, June 24th. They set a neutral rating and a $8.50 price target on the stock. Robert W. Baird boosted their price target on shares of Playtika from $9.00 to $10.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Finally, Macquarie downgraded shares of Playtika from an outperform rating to a neutral rating and set a $9.00 price target on the stock. in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $10.12.

Playtika Stock Up 0.4 %

Shares of NASDAQ:PLTK opened at $7.67 on Tuesday. The company has a market cap of $2.85 billion, a PE ratio of 13.95, a P/E/G ratio of 1.12 and a beta of 0.85. The company’s 50-day moving average price is $8.17 and its 200 day moving average price is $7.65. Playtika has a fifty-two week low of $6.25 and a fifty-two week high of $12.48.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $651.20 million for the quarter, compared to the consensus estimate of $642.38 million. Playtika had a net margin of 7.96% and a negative return on equity of 94.21%. As a group, equities analysts anticipate that Playtika will post 0.66 EPS for the current year.

Playtika Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.22%. The ex-dividend date was Friday, June 21st. Playtika’s dividend payout ratio is currently 72.73%.

Insider Buying and Selling

In related news, insider Gili Brudno sold 67,250 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $8.72, for a total transaction of $586,420.00. Following the completion of the sale, the insider now directly owns 201,750 shares in the company, valued at $1,759,260. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Playtika

A number of institutional investors have recently added to or reduced their stakes in PLTK. Quent Capital LLC lifted its stake in Playtika by 109.1% in the fourth quarter. Quent Capital LLC now owns 3,092 shares of the company’s stock valued at $27,000 after acquiring an additional 1,613 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Playtika by 772.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,924 shares of the company’s stock valued at $34,000 after acquiring an additional 3,474 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Playtika in the second quarter valued at approximately $36,000. Banque Cantonale Vaudoise acquired a new stake in Playtika in the first quarter valued at approximately $82,000. Finally, Delap Wealth Advisory LLC acquired a new stake in shares of Playtika in the first quarter worth $84,000. 11.94% of the stock is currently owned by institutional investors and hedge funds.

About Playtika

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.