Playtika (NASDAQ:PLTK) Shares Up 6.9% - Time to Buy?

Shares of Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) rose 6.9% on Monday . The stock traded as high as $4.27 and last traded at $4.29. Approximately 208,464 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 967,841 shares. The stock had previously closed at $4.01.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLTK. Robert W. Baird restated a "neutral" rating and set a $6.00 price target (down previously from $9.00) on shares of Playtika in a research note on Friday, February 28th. Bank of America raised Playtika from an "underperform" rating to a "buy" rating and raised their target price for the company from $6.00 to $6.50 in a report on Wednesday. Citigroup cut their price target on shares of Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a report on Friday, March 7th. Wedbush reissued an "outperform" rating and set a $11.50 price objective on shares of Playtika in a report on Wednesday, February 26th. Finally, Baird R W cut Playtika from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Playtika currently has a consensus rating of "Hold" and a consensus price target of $8.09.

Playtika Stock Up 0.3 %

The stock has a market capitalization of $1.96 billion, a PE ratio of 8.99, a P/E/G ratio of 1.69 and a beta of 0.98. The business's fifty day moving average is $6.22 and its 200-day moving average is $7.20.

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Playtika Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.67%. The ex-dividend date of this dividend is Friday, March 21st. Playtika's dividend payout ratio is presently 90.91%.

Hedge Funds Weigh In On Playtika

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Playtika by 23,814.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company's stock worth $4,592,000 after acquiring an additional 663,700 shares during the last quarter. State Street Corp raised its holdings in Playtika by 12.9% in the third quarter. State Street Corp now owns 1,317,709 shares of the company's stock valued at $10,564,000 after acquiring an additional 150,878 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Playtika by 14.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,137,595 shares of the company's stock valued at $9,010,000 after acquiring an additional 142,112 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Playtika by 102.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company's stock valued at $635,000 after acquiring an additional 40,604 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Playtika by 76.2% during the 4th quarter. SG Americas Securities LLC now owns 175,008 shares of the company's stock worth $1,215,000 after acquiring an additional 75,702 shares in the last quarter. 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.