Playtika (NASDAQ:PLTK) Sees Strong Trading Volume - Here's Why

Shares of Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) saw strong trading volume on Friday . 2,300,204 shares were traded 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

A number of research analysts recently weighed in on the company. Robert W. Baird reissued a "neutral" rating and issued a $6.00 price objective (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Citigroup dropped their price target on shares of Playtika from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Baird R W downgraded shares of Playtika from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Wedbush reiterated an "outperform" rating and issued a $11.50 target price on shares of Playtika in a report on Wednesday, February 26th. Finally, Macquarie cut their target price on shares of Playtika from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.32.

Playtika Stock Performance

The company's 50 day moving average is $6.39 and its 200 day moving average is $7.27. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 1.69 and a beta of 0.98.

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Playtika Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors 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 yield of 9.07%. The ex-dividend date of this dividend is Friday, March 21st. Playtika's dividend payout ratio (DPR) is presently 90.91%.

Institutional Trading of Playtika

Hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in Playtika by 57.2% in the fourth 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 during the period. GAMMA Investing LLC boosted its position in shares of Playtika by 146.0% during the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company's stock valued at $34,000 after acquiring an additional 2,910 shares in the last quarter. Versant Capital Management Inc increased its stake in Playtika by 148.7% in the fourth quarter. Versant Capital Management Inc now owns 5,847 shares of the company's stock valued at $41,000 after acquiring an additional 3,496 shares during the period. Neo Ivy Capital Management acquired a new position in Playtika in the third quarter worth about $56,000. Finally, KBC Group NV lifted its stake in Playtika by 19.3% during the third quarter. KBC Group NV now owns 7,820 shares of the company's stock worth $62,000 after purchasing an additional 1,266 shares during the period. Institutional investors own 11.94% of the company's stock.

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.