Renaissance Technologies LLC Boosts Stake in Playtika Holding Corp. (NASDAQ:PLTK)

Renaissance Technologies LLC increased its position in Playtika Holding Corp. (NASDAQ:PLTK) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,106,345 shares of the company’s stock after buying an additional 32,802 shares during the period. Renaissance Technologies LLC owned 0.57% of Playtika worth $16,577,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Playtika by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 162,450 shares of the company’s stock worth $1,278,000 after buying an additional 5,453 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Playtika in the second quarter worth about $412,000. Headlands Technologies LLC lifted its position in shares of Playtika by 648.8% in the second quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock worth $53,000 after buying an additional 5,794 shares in the last quarter. Choreo LLC purchased a new stake in shares of Playtika in the second quarter worth about $124,000. Finally, Quest Partners LLC lifted its position in shares of Playtika by 1,298.9% in the second quarter. Quest Partners LLC now owns 20,018 shares of the company’s stock worth $158,000 after buying an additional 18,587 shares in the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLTK. Macquarie cut Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research note on Thursday, June 13th. Morgan Stanley boosted their price objective on Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Wedbush reissued an “outperform” rating and set a $11.50 price objective on shares of Playtika in a research note on Thursday. UBS Group began coverage on Playtika in a research note on Monday, June 24th. They set a “neutral” rating and a $8.50 price objective on the stock. Finally, Roth Mkm reduced their price objective on Playtika from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.29.

Playtika Stock Performance

PLTK opened at $7.82 on Friday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 1.01 and a beta of 0.85. The stock’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.63. Playtika Holding Corp. has a one year low of $6.25 and a one year high of $10.28.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. The company had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $640.27 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Playtika’s revenue was down 2.5% compared to the same quarter last year. As a group, analysts predict that Playtika Holding Corp. will post 0.73 earnings per share for the current fiscal year.

Playtika Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.40 annualized dividend and a yield of 5.12%. Playtika’s dividend payout ratio (DPR) is currently 72.73%.

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.