Playtika Holding Corp. (NASDAQ:PLTK) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $8.09.

A number of analysts have recently weighed in on PLTK shares. Wedbush restated an “outperform” rating and issued a $11.50 target price on shares of Playtika in a report on Wednesday, February 26th. Robert W. Baird restated a “neutral” rating and set a $6.00 price objective (down from $9.00) on shares of Playtika in a research report on Friday, February 28th. Macquarie lowered their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Citigroup cut their target price on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Finally, Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and raised their price target for the stock from $6.00 to $6.50 in a research report on Wednesday.

Playtika Stock Performance

Shares of Playtika stock opened at $5.20 on Friday. Playtika has a 12 month low of $3.97 and a 12 month high of $9.16. The stock has a 50 day moving average of $6.18 and a 200 day moving average of $7.19. The firm has a market cap of $1.95 billion, a PE ratio of 8.97, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date is Friday, March 21st. Playtika’s payout ratio is currently 90.91%.

Institutional Trading of Playtika

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Playtika by 23,814.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock worth $4,592,000 after purchasing an additional 663,700 shares during the last quarter. State Street Corp boosted its position in Playtika by 12.9% in the 3rd quarter. State Street Corp now owns 1,317,709 shares of the company’s stock valued at $10,564,000 after buying an additional 150,878 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Playtika by 14.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,137,595 shares of the company’s stock worth $9,010,000 after acquiring an additional 142,112 shares during the period. JPMorgan Chase & Co. increased its position in shares of Playtika by 102.7% during the third quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company’s stock worth $635,000 after acquiring an additional 40,604 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Playtika by 76.2% during the fourth quarter. SG Americas Securities LLC now owns 175,008 shares of the company’s stock valued at $1,215,000 after acquiring an additional 75,702 shares in the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

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.