JPMorgan Chase & Co. Increases Stock Position in Playtika Holding Corp. (NASDAQ:PLTK)

JPMorgan Chase & Co. grew its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 102.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,150 shares of the company's stock after buying an additional 40,604 shares during the period. JPMorgan Chase & Co.'s holdings in Playtika were worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in shares of Playtika by 8.8% in the 3rd quarter. Pacer Advisors Inc. now owns 10,249,684 shares of the company's stock valued at $81,177,000 after buying an additional 829,372 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of 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 purchasing an additional 326,890 shares during the period. Edgestream Partners L.P. purchased a new position in Playtika during the 3rd quarter worth approximately $1,473,000. State Street Corp lifted its stake in Playtika by 12.9% in the third quarter. State Street Corp now owns 1,317,709 shares of the company's stock valued at $10,564,000 after buying an additional 150,878 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Playtika by 14.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,137,595 shares of the company's stock valued at $9,010,000 after acquiring an additional 142,112 shares during the period. Hedge funds and other institutional investors own 11.94% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.54, for a total value of $572,459.42. Following the sale, the insider now directly owns 200,554,660 shares in the company, valued at $1,512,182,136.40. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 753,894 shares of company stock worth $6,239,985. Insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Roth Mkm increased their price target on shares of Playtika from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Macquarie reiterated a "neutral" rating and set a $7.00 target price on shares of Playtika in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.25.

Playtika Stock Performance

PLTK stock traded down $0.23 during trading on Friday, reaching $7.14. 400,579 shares of the company were exchanged, compared to its average volume of 769,985. Playtika Holding Corp. has a 52-week low of $6.25 and a 52-week high of $9.15. The company has a market cap of $2.66 billion, a P/E ratio of 12.30, a PEG ratio of 1.76 and a beta of 0.92. The stock's 50 day moving average price is $7.47 and its 200 day moving average price is $7.60.

Playtika (NASDAQ:PLTK - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The firm had revenue of $620.80 million during the quarter, compared to analyst estimates of $622.46 million. Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The business's revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. As a group, equities research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current year.

Playtika Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, December 20th. This represents a $0.40 annualized dividend and a yield of 5.60%. Playtika's dividend payout ratio (DPR) is currently 68.97%.

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.