Playtika (NASDAQ:PLTK) Shares Down 7.8% on Analyst Downgrade

Playtika Holding Corp. (NASDAQ:PLTK)’s stock price traded down 7.8% on Friday after Baird R W downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $5.25 and last traded at $5.26. 1,666,469 shares traded hands during trading, an increase of 91% from the average session volume of 874,211 shares. The stock had previously closed at $5.70.

A number of other equities analysts have also recently weighed in on PLTK. Robert W. Baird reaffirmed a “neutral” rating and set a $6.00 price target (down from $9.00) on shares of Playtika in a research note on Friday. Wedbush reiterated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research report on Wednesday. Roth Mkm boosted their price objective on shares of Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Macquarie decreased their price objective on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Playtika has a consensus rating of “Hold” and a consensus price target of $8.21.

Insider Buying and Selling at Playtika

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 124,490 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $8.44, for a total value of $1,050,695.60. Following the transaction, the insider now directly owns 202,673,467 shares in the company, valued at approximately $1,710,564,061.48. This represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 491,921 shares of company stock worth $4,004,775. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Playtika by 12.9% during the 3rd quarter. State Street Corp now owns 1,317,709 shares of the company’s stock worth $10,564,000 after acquiring an additional 150,878 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Playtika by 23,814.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock worth $4,592,000 after acquiring an additional 663,700 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Playtika by 14.3% during the 3rd 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. lifted its holdings in shares of Playtika by 102.7% during the 3rd 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 lifted its holdings in shares of Playtika by 76.2% during the 4th quarter. SG Americas Securities LLC now owns 175,008 shares of the company’s stock worth $1,215,000 after acquiring an additional 75,702 shares during the period. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Stock Performance

The firm has a market capitalization of $1.97 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The company’s fifty day moving average price is $7.02 and its two-hundred day moving average price is $7.55.

Playtika Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 annualized dividend and a dividend yield of 7.58%. Playtika’s payout ratio is currently 90.91%.

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.