Playtech (LON:PTEC) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

by · The Markets Daily

Playtech plc (LON:PTEC – Get Free Report)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 342.65 and traded as low as GBX 280.50. Playtech shares last traded at GBX 282.50, with a volume of 1,360,939 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on PTEC shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Playtech from GBX 417 to GBX 433 and gave the company a “buy” rating in a research report on Thursday, September 11th. Jefferies Financial Group downgraded Playtech to a “hold” rating and dropped their price target for the company from GBX 405 to GBX 240 in a research note on Tuesday, November 25th.

Check Out Our Latest Analysis on PTEC

Playtech Stock Performance

The firm has a market capitalization of £815.33 million, a price-to-earnings ratio of 0.48, a PEG ratio of 1.28 and a beta of 1.26. The company has a fifty day moving average of GBX 274.78 and a two-hundred day moving average of GBX 342.46. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55.

Playtech declared that its board has approved a stock buyback plan on Thursday, September 25th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Playtech Company Profile

(Get Free Report)

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.

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