Baird R W Downgrades Playtika (NASDAQ:PLTK) to Hold

Playtika (NASDAQ:PLTK) was downgraded by equities researchers at Baird R W from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.

A number of other research analysts have also commented on the company. Macquarie lowered their price target on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $11.50 target price on shares of Playtika in a research note on Wednesday. Roth Mkm raised their target price on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $6.00 target price (down previously from $9.00) on shares of Playtika in a research note on Friday. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.21.

Playtika Stock Performance

Shares of PLTK opened at $5.28 on Friday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. Playtika has a one year low of $5.22 and a one year high of $9.15. The stock’s fifty day moving average is $7.02 and its 200-day moving average is $7.55.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.54, for a total value of $572,459.42. Following the completion of the transaction, the insider now owns 200,554,660 shares in the company, valued at $1,512,182,136.40. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 491,921 shares of company stock worth $4,004,775 in the last quarter. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Playtika

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC lifted its stake in Playtika by 57.2% in the 4th 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 lifted its stake in Playtika by 146.0% in the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after acquiring an additional 2,910 shares in the last quarter. Versant Capital Management Inc lifted its stake in Playtika by 148.7% in the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock worth $41,000 after acquiring an additional 3,496 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Playtika in the 3rd quarter worth about $56,000. Finally, R Squared Ltd purchased a new stake in Playtika in the 4th quarter worth about $57,000. 11.94% of the stock is 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.