Playtika Holding Corp. (NASDAQ:PLTK) Receives $9.00 Consensus Price Target from Brokerages

Playtika Holding Corp. (NASDAQ:PLTK) has earned a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.21.

Several analysts recently issued reports on PLTK shares. Wedbush reaffirmed an “outperform” rating and set a $11.50 price objective on shares of Playtika in a report on Wednesday. Macquarie cut 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. Roth Mkm upped their target price on shares of 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 restated a “neutral” rating and issued a $6.00 price objective (down previously from $9.00) on shares of Playtika in a research note on Friday.

Playtika Stock Down 7.4 %

PLTK stock opened at $5.28 on Wednesday. The firm has a 50 day moving average of $7.02 and a two-hundred day moving average of $7.54. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 1.69 and a beta of 0.92. Playtika has a 12 month low of $5.22 and a 12 month high of $9.15.

Playtika Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s payout ratio is currently 68.97%.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 291,508 shares of Playtika stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $8.17, for a total value of $2,381,620.36. Following the completion of the sale, the insider now owns 201,000,143 shares of the company’s stock, valued at approximately $1,642,171,168.31. This trade represents a 0.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 491,921 shares of company stock valued at $4,004,775. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its holdings in shares of Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after purchasing an additional 1,534 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Playtika by 146.0% during the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after purchasing an additional 2,910 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Playtika by 148.7% during the fourth quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock worth $41,000 after purchasing an additional 3,496 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Playtika in the 3rd quarter worth approximately $56,000. Finally, KBC Group NV lifted its position in Playtika by 19.3% in the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after buying an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

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.