Playtika Target of Unusually Large Options Trading (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTK) was the target of some unusual options trading on Wednesday. Stock investors acquired 4,603 call options on the company. This is an increase of 2,501% compared to the typical volume of 177 call options.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLTK. Macquarie dropped their price target on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Citigroup dropped their price objective 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. Robert W. Baird reissued a “neutral” rating and issued a $6.00 price objective (down previously from $9.00) on shares of Playtika in a research note on Friday, February 28th. Finally, Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and lifted their price target for the company from $6.00 to $6.50 in a report on Wednesday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.09.

Hedge Funds Weigh In On Playtika

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd increased its stake in Playtika by 11.4% during the 4th quarter. Covestor Ltd now owns 14,103 shares of the company’s stock valued at $98,000 after purchasing an additional 1,447 shares in the last quarter. Sterling Capital Management LLC raised its stake in Playtika by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after acquiring an additional 1,534 shares during the last quarter. Choreo LLC lifted its position in Playtika by 14.9% during the 4th quarter. Choreo LLC now owns 12,485 shares of the company’s stock worth $90,000 after acquiring an additional 1,619 shares during the period. Dimensional Fund Advisors LP grew 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 valued at $3,726,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Playtika by 3.0% in the fourth quarter. Invesco Ltd. now owns 78,390 shares of the company’s stock valued at $544,000 after purchasing an additional 2,304 shares during the period. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Price Performance

Playtika stock opened at $5.30 on Thursday. The business has a fifty day moving average price of $6.25 and a 200-day moving average price of $7.22. Playtika has a 1-year low of $3.97 and a 1-year high of $9.16. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.55%. Playtika’s payout ratio is 90.91%.

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.