Playtika Holding Corp. (NASDAQ:PLTK) Sees Significant Increase in Short Interest

Playtika Holding Corp. (NASDAQ:PLTK) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 6,670,000 shares, an increase of 29.5% from the February 28th total of 5,150,000 shares. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is presently 4.2 days. Approximately 9.9% of the shares of the company are short sold.

Playtika Stock Up 1.7 %

Playtika stock traded up $0.09 on Tuesday, hitting $5.26. The company’s stock had a trading volume of 2,563,712 shares, compared to its average volume of 1,062,706. Playtika has a one year low of $3.97 and a one year high of $9.16. The firm has a market cap of $1.97 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company has a fifty day moving average price of $6.15 and a 200-day moving average price of $7.17.

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 issued 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 7.60%. Playtika’s payout ratio is presently 90.91%.

Analyst Ratings Changes

PLTK has been the topic of a number of research analyst reports. Bank of America upgraded shares of 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 research note on Wednesday, March 26th. Macquarie cut their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Wedbush reaffirmed an “outperform” rating and issued a $11.50 target price on shares of Playtika in a report on Wednesday, February 26th. Robert W. Baird reissued a “neutral” rating and issued a $6.00 price objective (down from $9.00) on shares of Playtika in a research report on Friday, February 28th. Finally, Baird R W lowered shares of Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Playtika currently has an average rating of “Hold” and a consensus price target of $8.09.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in 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 increased its holdings in Playtika by 146.0% during the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock valued at $34,000 after purchasing an additional 2,910 shares in the last quarter. Versant Capital Management Inc increased its holdings in Playtika by 148.7% during the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after purchasing an additional 3,496 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Playtika in the third quarter worth $56,000. Finally, R Squared Ltd bought a new stake in shares of Playtika during the fourth quarter worth $57,000. 11.94% of the stock is owned by institutional investors.

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.