Playtika (NASDAQ:PLTK) Shares Gap Up – Here’s What Happened

Playtika Holding Corp. (NASDAQ:PLTK) gapped up prior to trading on Wednesday . The stock had previously closed at $4.40, but opened at $4.98. Playtika shares last traded at $5.39, with a volume of 2,529,345 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup reduced their target price on shares of Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Macquarie decreased their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird restated 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, February 28th. Finally, Bank of America raised shares of Playtika from an “underperform” rating to a “buy” rating and increased their price target for the company from $6.00 to $6.50 in a report on Wednesday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.09.

Playtika Stock Down 1.9 %

The stock has a fifty day moving average of $6.22 and a 200-day moving average of $7.20. The firm has a market capitalization of $1.95 billion, a P/E ratio of 8.97, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The business 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 is Friday, March 21st. This represents a $0.40 annualized dividend and a dividend yield of 7.69%. Playtika’s dividend payout ratio (DPR) is currently 90.91%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLTK. The Manufacturers Life Insurance Company raised its position in shares of Playtika by 9.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock worth $20,312,000 after acquiring an additional 241,658 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Playtika by 61.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after purchasing an additional 1,109,594 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Playtika by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock valued at $21,267,000 after purchasing an additional 326,890 shares during the period. FMR LLC boosted its stake in shares of Playtika by 1.2% in the 3rd quarter. FMR LLC now owns 1,339,801 shares of the company’s stock valued at $10,611,000 after purchasing an additional 15,471 shares during the last quarter. Finally, State Street Corp lifted its stake in Playtika by 12.9% in the third quarter. State Street Corp now owns 1,317,709 shares of the company’s stock valued at $10,564,000 after buying an additional 150,878 shares during the period. Institutional investors own 11.94% of the company’s stock.

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.