Brokerages Set Playtika Holding Corp. (NASDAQ:PLTK) Target Price at $7.68

Playtika Holding Corp. (NASDAQ:PLTK) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.68.

Several brokerages recently issued reports on PLTK. Morgan Stanley lowered their price target on Playtika from $7.25 to $5.75 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Wedbush upgraded Playtika to a “strong-buy” rating in a research note on Tuesday, July 1st.

Insider Buying and Selling

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of Playtika stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $4.70, for a total transaction of $1,828,549.10. Following the sale, the insider directly owned 199,510,511 shares in the company, valued at $937,699,401.70. The trade was a 0.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 739,922 shares of company stock valued at $3,548,194 over the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of Playtika

A number of hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC acquired a new stake in Playtika in the fourth quarter valued at $201,000. Raymond James Financial Inc. bought a new position in shares of Playtika during the fourth quarter worth about $755,000. Quantbot Technologies LP bought a new position in shares of Playtika during the fourth quarter worth about $238,000. Virtu Financial LLC bought a new stake in Playtika in the fourth quarter valued at about $108,000. Finally, Sei Investments Co. raised its stake in Playtika by 341.2% during the fourth quarter. Sei Investments Co. now owns 76,403 shares of the company’s stock valued at $530,000 after buying an additional 59,084 shares in the last quarter. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Price Performance

NASDAQ PLTK opened at $4.44 on Friday. Playtika has a 1-year low of $3.97 and a 1-year high of $8.80. The firm has a market capitalization of $1.67 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.20 and a beta of 0.85. The business’s 50-day simple moving average is $4.73 and its 200-day simple moving average is $5.39.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Playtika had a net margin of 5.37% and a negative return on equity of 149.09%. The business had revenue of $706.00 million for the quarter, compared to analyst estimates of $699.67 million. During the same period last year, the firm earned $0.14 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts expect that Playtika will post 0.65 EPS for the current fiscal year.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 23rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 9.01%. The ex-dividend date of this dividend was Monday, June 23rd. Playtika’s dividend payout ratio (DPR) is 105.26%.

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.