Citigroup Lowers Playtika (NASDAQ:PLTK) Price Target to $9.00

Playtika (NASDAQ:PLTK) had its price objective cut by Citigroup from $10.00 to $9.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 73.08% from the company’s current price.

A number of other analysts have also weighed in on PLTK. Macquarie lowered their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. 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 note on Friday, February 28th. Roth Mkm lifted 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. Baird R W lowered shares of Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.32.

Playtika Stock Performance

NASDAQ PLTK opened at $5.20 on Friday. Playtika has a one year low of $4.87 and a one year high of $9.15. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company’s 50-day simple moving average is $6.86 and its two-hundred day simple moving average is $7.48.

Insider Buying and Selling

In other news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,512,182,136.40. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Playtika

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTK. Arrowstreet Capital Limited Partnership increased its stake in shares of Playtika by 61.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock valued at $20,290,000 after purchasing an additional 1,109,594 shares in the last quarter. Pacer Advisors Inc. raised its stake in Playtika by 8.8% in the 3rd quarter. Pacer Advisors Inc. now owns 10,249,684 shares of the company’s stock valued at $81,177,000 after purchasing an additional 829,372 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake 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 buying an additional 663,700 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Playtika in the 4th quarter worth approximately $2,402,000. Finally, The Manufacturers Life Insurance Company lifted its position in Playtika by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock worth $21,267,000 after buying an additional 326,890 shares in the last quarter. Institutional investors and hedge funds 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.