Brokerages Set Playtika Holding Corp. (NASDAQ:PLTK) Target Price at $8.32

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) has received an average recommendation of "Hold" from the nine ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $8.09.

A number of research analysts have commented on the stock. Robert W. Baird reaffirmed a "neutral" rating and issued a $6.00 target price (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Bank of America upgraded Playtika from an "underperform" rating to a "buy" rating and upped their price target for the stock from $6.00 to $6.50 in a report on Wednesday. Baird R W downgraded shares of Playtika from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Wedbush reissued an "outperform" rating and set a $11.50 price objective on shares of Playtika in a report on Wednesday, February 26th. Finally, Macquarie reduced their target price on Playtika from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV grew its holdings in shares of Playtika by 19.3% in the 3rd quarter. KBC Group NV now owns 7,820 shares of the company's stock worth $62,000 after acquiring an additional 1,266 shares during the period. Covestor Ltd increased its holdings in Playtika by 11.4% during the 4th quarter. Covestor Ltd now owns 14,103 shares of the company's stock valued at $98,000 after acquiring an additional 1,447 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock worth $29,000 after purchasing an additional 1,534 shares in the last quarter. Choreo LLC raised its position in shares of Playtika by 14.9% during the 4th quarter. Choreo LLC now owns 12,485 shares of the company's stock worth $90,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Playtika by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company's stock worth $3,726,000 after buying an additional 1,639 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

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Playtika Stock Performance

Shares of PLTK traded up $0.90 during trading hours on Friday, hitting $5.30. 6,886,731 shares of the stock were exchanged, compared to its average volume of 1,009,193. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. Playtika has a 12-month low of $3.97 and a 12-month high of $9.16. The stock's 50-day moving average price is $6.29 and its two-hundred day moving average price is $7.23.

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 issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.55%. Playtika's dividend payout ratio is presently 90.91%.

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.