Analysts Set Playtika Holding Corp. (NASDAQ:PLTK) Price Target at $8.09

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have received an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.78.

PLTK has been the topic of several research reports. Macquarie dropped their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Wedbush restated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Wednesday, February 26th. Citigroup dropped their price target on shares of Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Robert W. Baird reiterated a “neutral” rating and set a $6.00 price objective (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Finally, Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $6.50 in a research report on Wednesday, March 26th.

Institutional Trading of Playtika

Several large investors have recently added to or reduced their stakes in PLTK. The Manufacturers Life Insurance Company raised its position in Playtika by 9.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock valued at $20,312,000 after acquiring an additional 241,658 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Playtika by 61.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after buying an additional 1,109,594 shares in the last quarter. State Street Corp raised its stake in Playtika by 12.9% in the 3rd quarter. State Street Corp now owns 1,317,709 shares of the company’s stock valued at $10,564,000 after purchasing an additional 150,878 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Playtika by 2.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,160,806 shares of the company’s stock worth $8,056,000 after buying an additional 23,211 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Playtika by 76.0% during the 4th quarter. Quantinno Capital Management LP now owns 692,975 shares of the company’s stock worth $4,809,000 after purchasing an additional 299,278 shares during the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Trading Down 1.2 %

Shares of PLTK opened at $4.93 on Thursday. Playtika has a 12 month low of $3.97 and a 12 month high of $9.16. The business’s fifty day simple moving average is $5.40 and its two-hundred day simple moving average is $6.86. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.69 and a beta of 0.92.

Playtika Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.11%. The ex-dividend date was Friday, March 21st. Playtika’s payout ratio is currently 90.91%.

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.