Macquarie Cuts Playtika (NASDAQ:PLTK) Price Target to $6.00

Playtika (NASDAQ:PLTK) had its target price lowered by Macquarie from $7.00 to $6.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Macquarie’s price target indicates a potential upside of 13.64% from the company’s previous close.

A number of other equities research analysts also recently issued reports on PLTK. Robert W. Baird reaffirmed 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. Roth Mkm upped their price target on shares of Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.50 price target on shares of Playtika in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.21.

Playtika Stock Down 7.4 %

Playtika stock traded down $0.42 during mid-day trading on Friday, reaching $5.28. 2,758,423 shares of the company’s stock traded hands, compared to its average volume of 903,657. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.69 and a beta of 0.92. The stock has a 50 day moving average of $7.06 and a two-hundred day moving average of $7.55. Playtika has a 12-month low of $5.22 and a 12-month high of $9.15.

Insider Buying and Selling at Playtika

In other news, major shareholder Holding Uk Ltd Playtika II sold 291,508 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $8.17, for a total value of $2,381,620.36. Following the transaction, the insider now directly owns 201,000,143 shares in the company, valued at approximately $1,642,171,168.31. This represents a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 491,921 shares of company stock worth $4,004,775 over the last quarter. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. KBC Group NV grew its holdings in shares of Playtika by 19.3% in the third quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after purchasing an additional 1,266 shares during the last quarter. Covestor Ltd grew its holdings in shares of 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 last quarter. Sterling Capital Management LLC grew its holdings in shares of Playtika by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after purchasing an additional 1,534 shares during the last quarter. Choreo LLC grew its holdings in shares of Playtika by 14.9% in the fourth quarter. Choreo LLC now owns 12,485 shares of the company’s stock worth $90,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Playtika by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company’s stock worth $3,726,000 after purchasing an additional 1,639 shares during the last quarter. 11.94% of the stock is currently 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.