Playtika (NASDAQ:PLTK) Sets New 52-Week Low Following Weak Earnings

Playtika Holding Corp. (NASDAQ:PLTK)’s share price hit a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $5.23 and last traded at $5.37, with a volume of 413233 shares. The stock had previously closed at $6.85.

The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.15). Playtika had a net margin of 8.52% and a negative return on equity of 144.73%.

Analysts Set New Price Targets

A number of brokerages recently commented on PLTK. Roth Mkm upped their target price on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a report on Wednesday. Finally, Macquarie reiterated a “neutral” rating and issued a $7.00 price objective on shares of Playtika in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Playtika presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Insiders Place Their Bets

In other news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.54, for a total value of $572,459.42. Following the transaction, the insider now owns 200,554,660 shares of the company’s stock, valued at $1,512,182,136.40. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 491,921 shares of company stock valued at $4,004,775. Insiders own 4.80% of the company’s stock.

Institutional Trading of Playtika

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTK. International Assets Investment Management LLC increased its stake in Playtika by 692.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,484 shares of the company’s stock worth $91,000 after acquiring an additional 10,034 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Playtika by 170.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 53,530 shares of the company’s stock worth $424,000 after purchasing an additional 33,711 shares during the period. Pallas Capital Advisors LLC boosted its holdings in shares of Playtika by 41.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 47,249 shares of the company’s stock worth $359,000 after purchasing an additional 13,787 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Playtika in the 3rd quarter worth approximately $62,000. Finally, MQS Management LLC purchased a new position in shares of Playtika in the 3rd quarter worth approximately $135,000. Institutional investors own 11.94% of the company’s stock.

Playtika Stock Performance

The stock has a market cap of $2.02 billion, a PE ratio of 9.20, a PEG ratio of 1.69 and a beta of 0.92. The stock has a fifty day moving average price of $7.08 and a 200 day moving average price of $7.56.

About Playtika

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.