Playtika (NASDAQ:PLTK) Sets New 12-Month Low – Time to Sell?

Playtika Holding Corp. (NASDAQ:PLTK) hit a new 52-week low during trading on Monday . The stock traded as low as $4.57 and last traded at $4.74, with a volume of 1793788 shares changing hands. The stock had previously closed at $4.58.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup decreased their target price on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Wedbush reaffirmed an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Wednesday, February 26th. Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird reiterated a “neutral” rating and set a $6.00 price target (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Finally, Macquarie cut their price target on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.32.

Playtika Price Performance

The business has a 50 day moving average of $6.54 and a 200 day moving average of $7.34. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.77%. Playtika’s payout ratio is 90.91%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLTK. Sterling Capital Management LLC raised its stake in Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after acquiring an additional 1,534 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Playtika by 146.0% in the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock valued at $34,000 after acquiring an additional 2,910 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Playtika by 148.7% in the fourth quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after acquiring an additional 3,496 shares during the last quarter. Neo Ivy Capital Management bought a new position in Playtika in the third quarter valued at about $56,000. Finally, R Squared Ltd acquired a new position in Playtika in the fourth quarter valued at about $57,000. 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.