Playtika Holding Corp. (NASDAQ:PLTK) Sees Significant Increase in Short Interest

Playtika Holding Corp. (NASDAQ:PLTK) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 5,150,000 shares, an increase of 16.8% from the February 13th total of 4,410,000 shares. Based on an average daily volume of 1,070,000 shares, the days-to-cover ratio is presently 4.8 days. Approximately 7.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PLTK shares. Citigroup cut their target price on shares of Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Macquarie cut their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Robert W. Baird reissued a “neutral” rating and set a $6.00 price target (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Playtika presently has an average rating of “Hold” and an average price target of $8.32.

Playtika Price Performance

Shares of PLTK opened at $4.47 on Friday. The business has a 50-day moving average of $6.44 and a 200-day moving average of $7.30. Playtika has a 1 year low of $4.43 and a 1 year high of $9.16. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The company 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 $0.10 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.95%. Playtika’s dividend payout ratio (DPR) is currently 90.91%.

Institutional Investors Weigh In On Playtika

A number of institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in 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 buying an additional 1,534 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 period. Versant Capital Management Inc raised its position in shares of Playtika by 148.7% in the 4th 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 acquired a new position in shares of Playtika in the 3rd quarter valued at about $56,000. Finally, KBC Group NV lifted its stake in shares of Playtika by 19.3% in the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock valued at $62,000 after purchasing an additional 1,266 shares during the period. 11.94% of the stock is owned by institutional investors.

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.