Playtika (NASDAQ:PLTK) Trading Up 6.9% – Time to Buy?

Playtika Holding Corp. (NASDAQ:PLTK)’s stock price shot up 6.9% on Monday . The stock traded as high as $4.27 and last traded at $4.29. 208,464 shares were traded during mid-day trading, a decline of 78% from the average session volume of 967,841 shares. The stock had previously closed at $4.01.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PLTK shares. Wedbush reiterated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research note on Wednesday, February 26th. Robert W. Baird restated a “neutral” rating and issued a $6.00 target price (down previously from $9.00) on shares of Playtika in a report on Friday, February 28th. Macquarie decreased their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Baird R W lowered shares of Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Citigroup dropped 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.32.

Playtika Stock Performance

The business has a fifty day simple moving average of $6.39 and a 200 day simple moving average of $7.27. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given 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 yield of 9.39%. Playtika’s dividend payout ratio (DPR) is currently 90.91%.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently added to or reduced their stakes in the business. KBC Group NV lifted its holdings in shares of Playtika by 19.3% during the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after acquiring an additional 1,266 shares during the period. Covestor Ltd grew its position in Playtika by 11.4% during the fourth quarter. Covestor Ltd now owns 14,103 shares of the company’s stock valued at $98,000 after acquiring an additional 1,447 shares during the period. Sterling Capital Management LLC raised its holdings 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 worth $29,000 after purchasing an additional 1,534 shares during the period. Choreo LLC lifted its stake in shares of 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 purchasing an additional 1,619 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position 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 purchasing an additional 1,639 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

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.