Playtika (NASDAQ:PLTK) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Playtika (NASDAQ:PLTK - Free Report) from an underperform rating to a buy rating in a research note released on Wednesday morning, Marketbeat Ratings reports. Bank of America currently has $6.50 price target on the stock, up from their previous price target of $6.00.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird restated a "neutral" rating and set a $6.00 price objective (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Wedbush reissued an "outperform" rating and set a $11.50 target price 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. Macquarie decreased their price objective on Playtika from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Finally, Citigroup reduced their price target on Playtika from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.09.

Playtika Price Performance

NASDAQ:PLTK remained flat at $5.20 during trading hours on Wednesday. The company had a trading volume of 2,202,228 shares, compared to its average volume of 1,053,516. Playtika has a fifty-two week low of $3.97 and a fifty-two week high of $9.16. The stock has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $7.19. The stock has a market capitalization of $1.95 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date is Friday, March 21st. Playtika's payout ratio is 90.91%.

Institutional Trading of Playtika

Large investors have recently modified their holdings of the stock. Covestor Ltd grew its holdings in Playtika by 11.4% in the fourth quarter. Covestor Ltd now owns 14,103 shares of the company's stock worth $98,000 after purchasing an additional 1,447 shares during the period. Sterling Capital Management LLC grew its stake in shares of Playtika by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock valued at $29,000 after buying an additional 1,534 shares during the period. Choreo LLC increased its position in Playtika by 14.9% in the 4th quarter. Choreo LLC now owns 12,485 shares of the company's stock valued at $90,000 after buying an additional 1,619 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Playtika by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company's stock worth $3,726,000 after buying an additional 1,639 shares during the period. Finally, Invesco Ltd. raised its stake in Playtika by 3.0% during the 4th quarter. Invesco Ltd. now owns 78,390 shares of the company's stock worth $544,000 after buying an additional 2,304 shares during the period. Institutional investors and hedge funds 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.