Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report)'s stock price dropped 7.8% during trading on Friday after Baird R W downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $5.25 and last traded at $5.26. Approximately 1,666,469 shares were traded during trading, an increase of 91% from the average daily volume of 874,211 shares. The stock had previously closed at $5.70.
PLTK has been the subject of a number of other reports. Robert W. Baird restated a "neutral" rating and set a $6.00 price objective (down from $9.00) on shares of Playtika in a report on Friday. Wedbush restated an "outperform" rating and issued a $11.50 target price on shares of Playtika in a research note on Wednesday, February 26th. Roth Mkm upped their target price on shares of Playtika from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, Macquarie reduced their price target on shares of Playtika from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Playtika has a consensus rating of "Hold" and a consensus price target of $8.21.
Read Our Latest Report on Playtika
Insider Activity at Playtika
In related news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.54, for a total value of $572,459.42. Following the completion of the sale, the insider now owns 200,554,660 shares in the company, valued at approximately $1,512,182,136.40. This represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.80% of the company's stock.
Institutional Investors Weigh In On Playtika
Several hedge funds have recently made changes to their positions in PLTK. Arrowstreet Capital Limited Partnership lifted its position in shares of Playtika by 61.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company's stock valued at $20,290,000 after acquiring an additional 1,109,594 shares in the last quarter. Pacer Advisors Inc. lifted its position 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 acquiring an additional 829,372 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Playtika by 23,814.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company's stock valued at $4,592,000 after acquiring an additional 663,700 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Playtika in the 4th quarter valued at approximately $2,402,000. Finally, The Manufacturers Life Insurance Company increased its stake in 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 buying an additional 326,890 shares during the period. Hedge funds and other institutional investors own 11.94% of the company's stock.
Playtika Trading Down 3.6 %
The company has a market cap of $1.90 billion, a PE ratio of 8.78, a P/E/G ratio of 1.69 and a beta of 0.92. The business's 50-day simple moving average is $6.99 and its 200-day simple moving average is $7.54.
Playtika Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a $0.10 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a yield of 7.86%. Playtika's payout ratio is 90.91%.
About Playtika
(
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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.
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