Playtika (NASDAQ:PLTK) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Playtika (NASDAQ:PLTK) in a research report released on Thursday morning, Benzinga reports. They currently have a $11.50 target price on the stock.

Several other equities analysts also recently commented on the company. UBS Group started coverage on Playtika in a research note on Monday, June 24th. They issued a neutral rating and a $8.50 price objective on the stock. Roth Mkm decreased their price objective on Playtika from $9.00 to $8.00 and set a neutral rating for the company in a report on Thursday, August 8th. Morgan Stanley upped their price objective on shares of Playtika from $7.40 to $8.25 and gave the company an equal weight rating in a report on Tuesday, July 23rd. Finally, Macquarie lowered shares of Playtika from an outperform rating to a neutral rating and set a $9.00 target price for the company. in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $9.29.

Playtika Price Performance

PLTK opened at $7.82 on Thursday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 1.01 and a beta of 0.85. The firm’s fifty day moving average price is $7.46 and its two-hundred day moving average price is $7.64. Playtika has a 1 year low of $6.25 and a 1 year high of $10.28.

Playtika (NASDAQ:PLTK) last released its earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $640.27 million. Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, equities analysts anticipate that Playtika will post 0.73 EPS for the current year.

Playtika Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.12%. The ex-dividend date is Friday, September 20th. Playtika’s dividend payout ratio (DPR) is presently 72.73%.

Institutional Trading of Playtika

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in Playtika in the 2nd quarter worth approximately $159,000. Ariadne Wealth Management LP purchased a new stake in Playtika in the 2nd quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC lifted its stake in Playtika by 365.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 171,603 shares of the company’s stock worth $1,351,000 after purchasing an additional 134,732 shares in the last quarter. AQR Capital Management LLC lifted its stake in Playtika by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 7,836,383 shares of the company’s stock worth $61,672,000 after purchasing an additional 3,132,272 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Playtika in the 2nd quarter worth approximately $398,000. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Company Profile

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.