Playtika (NASDAQ:PLTK) Shares Gap Up - Still a Buy?

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.40, but opened at $4.98. Playtika shares last traded at $5.39, with a volume of 2,529,345 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of Playtika from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Macquarie cut their target price on Playtika from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. Wedbush reissued an "outperform" rating and issued a $11.50 price objective on shares of Playtika in a report on Wednesday, February 26th. Baird R W lowered shares of Playtika from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $6.00 price target (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $8.09.

Playtika Stock Performance

The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company's 50 day moving average is $6.18 and its 200 day moving average is $7.19.

Playtika Dividend Announcement

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 issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.69%. The ex-dividend date is Friday, March 21st. Playtika's payout ratio is currently 90.91%.

Hedge Funds Weigh In On Playtika

A number of institutional investors have recently modified their holdings of PLTK. Sterling Capital Management LLC grew its holdings in shares of Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock worth $29,000 after buying an additional 1,534 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Playtika by 146.0% during the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company's stock worth $34,000 after purchasing an additional 2,910 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 3,496 shares during the period. Neo Ivy Capital Management acquired a new position in Playtika in the 3rd quarter valued at $56,000. Finally, R Squared Ltd purchased a new position in Playtika during the 4th quarter worth $57,000. 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.