Playtika Holding Corp. (NASDAQ:PLTK) Receives $8.32 Consensus Price Target from Analysts

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $8.09.

Several equities analysts have commented on the company. Macquarie cut their price target on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Citigroup cut their target price on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Robert W. Baird reiterated a “neutral” rating and set a $6.00 price target (down previously from $9.00) on shares of Playtika in a research note on Friday, February 28th. Bank of America upgraded shares of Playtika from an “underperform” rating to a “buy” rating and increased their price objective for the company from $6.00 to $6.50 in a research note on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Wednesday, February 26th.

Playtika Stock Performance

Shares of PLTK opened at $5.20 on Friday. Playtika has a 52 week low of $3.97 and a 52 week high of $9.16. The firm has a market capitalization of $1.95 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.69 and a beta of 0.98. The company has a 50-day simple moving average of $6.22 and a 200-day simple moving average of $7.20.

Playtika Announces Dividend

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

Institutional Investors Weigh In On Playtika

A number of hedge funds and other institutional investors have recently bought and sold shares of PLTK. Arrowstreet Capital Limited Partnership raised its stake in shares of Playtika by 61.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after acquiring an additional 1,109,594 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Playtika by 23,814.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after purchasing an additional 663,700 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Playtika during the 4th quarter worth $2,402,000. The Manufacturers Life Insurance Company boosted its position in Playtika by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock valued at $21,267,000 after buying an additional 326,890 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Playtika by 76.0% in the 4th quarter. Quantinno Capital Management LP now owns 692,975 shares of the company’s stock valued at $4,809,000 after buying an additional 299,278 shares during the period. 11.94% of the stock is owned by institutional investors and hedge funds.

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.