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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLTK shares. Robert W. Baird restated a “neutral” rating and issued a $6.00 price objective (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Citigroup lowered their price target on shares of Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Macquarie decreased 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. Finally, Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and increased their target price for the company from $6.00 to $6.50 in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.09.

Playtika Trading Down 1.9 %

Shares of NASDAQ:PLTK opened at $5.20 on Friday. The company has a 50-day moving average price of $6.22 and a 200-day moving average price of $7.20. The company has a market cap 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. Playtika has a 12 month low of $3.97 and a 12 month high of $9.16.

Playtika Announces Dividend

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

Institutional Investors Weigh In On Playtika

Several institutional investors and hedge funds have recently bought and sold shares of PLTK. Covestor Ltd raised its holdings in shares of Playtika by 11.4% during the fourth quarter. Covestor Ltd now owns 14,103 shares of the company’s stock valued at $98,000 after acquiring an additional 1,447 shares in the last quarter. Sterling Capital Management LLC increased its position in Playtika by 57.2% during the 4th 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 period. Choreo LLC raised its holdings in Playtika by 14.9% in the 4th quarter. Choreo LLC now owns 12,485 shares of the company’s stock worth $90,000 after purchasing an additional 1,619 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Playtika by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company’s stock worth $3,726,000 after purchasing an additional 1,639 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Playtika by 3.0% during the 4th quarter. Invesco Ltd. now owns 78,390 shares of the company’s stock valued at $544,000 after purchasing an additional 2,304 shares in 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.