Playtika (NASDAQ:PLTK) Cut to Hold at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Playtika (NASDAQ:PLTK – Free Report) from a buy rating to a hold rating in a report published on Sunday morning.

PLTK has been the topic of a number of other reports. Weiss Ratings raised shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Loop Capital set a $3.75 price objective on Playtika in a research report on Monday, November 3rd. Finally, Wedbush restated an “outperform” rating and issued a $7.00 target price on shares of Playtika in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.00.

Check Out Our Latest Report on PLTK

Playtika Stock Performance

Shares of NASDAQ PLTK opened at $3.57 on Friday. The company’s fifty day moving average is $3.93 and its two-hundred day moving average is $3.90. The firm has a market capitalization of $1.34 billion, a P/E ratio of 14.88, a PEG ratio of 2.09 and a beta of 0.84. Playtika has a one year low of $3.31 and a one year high of $7.58.

Playtika (NASDAQ:PLTK – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $674.60 million for the quarter, compared to analyst estimates of $669.60 million. Playtika had a net margin of 3.16% and a negative return on equity of 114.44%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. On average, sell-side analysts forecast that Playtika will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $0.40 annualized dividend and a yield of 11.2%. Playtika’s dividend payout ratio is currently 166.67%.

Institutional Investors Weigh In On Playtika

A number of institutional investors have recently modified their holdings of PLTK. Wealth Enhancement Advisory Services LLC grew its stake in Playtika by 3.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 76,907 shares of the company’s stock worth $276,000 after purchasing an additional 2,670 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Playtika by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 106,151 shares of the company’s stock worth $502,000 after acquiring an additional 2,817 shares in the last quarter. R Squared Ltd increased its holdings in shares of Playtika by 29.3% in the 3rd quarter. R Squared Ltd now owns 13,017 shares of the company’s stock valued at $51,000 after acquiring an additional 2,946 shares during the last quarter. Merit Financial Group LLC lifted its stake in Playtika by 17.2% during the third quarter. Merit Financial Group LLC now owns 23,085 shares of the company’s stock worth $90,000 after purchasing an additional 3,381 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its holdings in Playtika by 27.6% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 16,300 shares of the company’s stock worth $66,000 after purchasing an additional 3,524 shares during the period. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Company Profile

(Get Free Report)

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.

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