Playtika (NASDAQ:PLTK) Stock Price Down 4.9%

Playtika Holding Corp. (NASDAQ:PLTK) shares fell 4.9% on Friday . The stock traded as low as $7.79 and last traded at $7.79. 48,912 shares traded hands during trading, a decline of 95% from the average session volume of 897,072 shares. The stock had previously closed at $8.19.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLTK. Macquarie downgraded shares of Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research note on Thursday, June 13th. Morgan Stanley upped their target price on shares of Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. UBS Group started coverage on shares of Playtika in a research note on Monday, June 24th. They set a “neutral” rating and a $8.50 target price on the stock. Roth Mkm dropped their price objective on shares of Playtika from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Wedbush restated an “outperform” rating and issued a $11.50 target price on shares of Playtika in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.29.

Playtika Stock Performance

The stock’s fifty day moving average price is $7.46 and its 200-day moving average price is $7.62. The firm has a market cap of $2.91 billion, a PE ratio of 14.89, a P/E/G ratio of 0.97 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last posted its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $627.00 million during the quarter, compared to the consensus estimate of $640.27 million. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. Sell-side analysts forecast that Playtika Holding Corp. will post 0.73 earnings per share for the current fiscal year.

Playtika Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.10%. Playtika’s dividend payout ratio (DPR) is presently 72.73%.

Institutional Investors Weigh In On Playtika

A number of hedge funds and other institutional investors have recently modified their holdings of PLTK. AQR Capital Management LLC grew its holdings in shares of Playtika by 66.6% during the second quarter. AQR Capital Management LLC now owns 7,836,383 shares of the company’s stock worth $61,672,000 after buying an additional 3,132,272 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Playtika by 19.7% in the second quarter. Pacer Advisors Inc. now owns 9,420,312 shares of the company’s stock worth $74,138,000 after acquiring an additional 1,552,606 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Playtika in the first quarter worth approximately $9,327,000. Tidal Investments LLC acquired a new stake in shares of Playtika in the first quarter worth approximately $1,895,000. Finally, LSV Asset Management boosted its position in shares of Playtika by 3.4% in the first quarter. LSV Asset Management now owns 7,756,485 shares of the company’s stock worth $54,683,000 after acquiring an additional 256,353 shares during the last quarter. 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.