Playtika (NASDAQ:PLTK) Price Target Lowered to $6.00 at Macquarie

Playtika (NASDAQ:PLTK - Free Report) had its target price trimmed by Macquarie from $7.00 to $6.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on PLTK. Wedbush reaffirmed an "outperform" rating and set a $11.50 price target on shares of Playtika in a research note on Wednesday, February 26th. Roth Mkm lifted their target price on Playtika from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $6.00 price objective (down previously from $9.00) on shares of Playtika in a research report on Friday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $8.21.

Playtika Stock Down 3.6 %

NASDAQ PLTK traded down $0.19 on Friday, hitting $5.09. 2,660,819 shares of the stock were exchanged, compared to its average volume of 947,581. The company has a market cap of $1.90 billion, a PE ratio of 8.78, a PEG ratio of 1.69 and a beta of 0.92. Playtika has a fifty-two week low of $5.07 and a fifty-two week high of $9.15. The company has a 50-day moving average price of $7.02 and a 200-day moving average price of $7.55.

Playtika Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.86%. The ex-dividend date of this dividend is Friday, March 21st. Playtika's payout ratio is currently 90.91%.

Insider Buying and Selling at Playtika

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.54, for a total transaction of $572,459.42. Following the transaction, the insider now owns 200,554,660 shares of the company's stock, valued at $1,512,182,136.40. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Playtika

Institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its stake in Playtika by 61.2% during 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 period. Pacer Advisors Inc. lifted its position in 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 purchasing an additional 829,372 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Playtika during the fourth quarter valued at approximately $2,402,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Playtika by 13.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company's stock worth $21,267,000 after purchasing an additional 326,890 shares in the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

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.