Investors Buy High Volume of Call Options on Playtika (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTK) was the target of some unusual options trading activity on Wednesday. Stock traders bought 4,603 call options on the stock. This is an increase of 2,501% compared to the average volume of 177 call options.

Playtika Stock Performance

Shares of PLTK stock opened at $5.20 on Friday. Playtika has a 52-week low of $3.97 and a 52-week high of $9.16. The business’s fifty day moving average is $6.22 and its 200 day moving average is $7.20. The company has a market capitalization of $1.95 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Macquarie reduced their target price on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Wedbush reiterated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research note on Wednesday, February 26th. Robert W. Baird restated a “neutral” rating and set a $6.00 target price (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Citigroup decreased their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PLTK. Sterling Capital Management LLC lifted its position in Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after purchasing an additional 1,534 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Playtika by 146.0% during 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 during the last quarter. Versant Capital Management Inc grew its position in Playtika by 148.7% in the fourth 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 position in Playtika in the third quarter worth $56,000. Finally, R Squared Ltd bought a new position in Playtika in the fourth quarter valued at $57,000. 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.