Playtika (NASDAQ:PLTK) Sees Strong Trading Volume - What's Next?

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) saw an uptick in trading volume on Friday . 2,300,204 shares traded hands during trading, an increase of 154% from the previous session's volume of 906,729 shares.The stock last traded at $4.16 and had previously closed at $4.37.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Baird R W downgraded Playtika from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Robert W. Baird restated a "neutral" rating and issued a $6.00 price target (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Wedbush reiterated an "outperform" rating and set a $11.50 price objective on shares of Playtika in a report on Wednesday, February 26th. Citigroup lowered their price objective on shares of Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Finally, Macquarie reduced their target price on shares of Playtika from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Playtika has a consensus rating of "Hold" and a consensus price target of $8.32.

Playtika Trading Up 0.6 %

The firm's 50-day simple moving average is $6.34 and its two-hundred day simple moving average is $7.25. The company has a market cap of $1.66 billion, a PE ratio of 7.58, a P/E/G ratio of 1.69 and a beta of 0.98.

Playtika Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 9.02%. The ex-dividend date of this dividend is Friday, March 21st. Playtika's payout ratio is 90.91%.

Hedge Funds Weigh In On Playtika

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC lifted its position in Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock valued at $29,000 after purchasing an additional 1,534 shares during the period. GAMMA Investing LLC boosted its stake in shares of Playtika by 146.0% in the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company's stock worth $34,000 after buying an additional 2,910 shares during the last quarter. Versant Capital Management Inc grew its holdings in Playtika by 148.7% during the fourth quarter. Versant Capital Management Inc now owns 5,847 shares of the company's stock worth $41,000 after acquiring an additional 3,496 shares during the period. Neo Ivy Capital Management purchased a new position in Playtika during the third quarter valued at approximately $56,000. Finally, R Squared Ltd acquired a new position in Playtika in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 11.94% of the company's stock.

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.