Playtika (NASDAQ:PLTK) Shares Gap Up – What’s Next?

Playtika Holding Corp. (NASDAQ:PLTK)’s share price gapped up before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLTK. Macquarie lowered their price objective on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Robert W. Baird reiterated a “neutral” rating and issued a $6.00 price target (down from $9.00) on shares of Playtika in a research report on Friday, February 28th. Citigroup cut their price objective on shares of Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $6.50 in a research note on Wednesday. Finally, Baird R W downgraded Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.09.

Playtika Stock Up 22.4 %

The firm has a market capitalization of $2.02 billion, a P/E ratio of 9.28, a PEG ratio of 1.69 and a beta of 0.98. The stock has a fifty day simple moving average of $6.29 and a 200 day simple moving average of $7.23.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.10 dividend. 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 7.43%. Playtika’s dividend payout ratio is presently 90.91%.

Institutional Investors Weigh In On Playtika

A number of institutional investors have recently added to or reduced their stakes in PLTK. Wealth Enhancement Advisory Services LLC grew its stake in Playtika by 5.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,416 shares of the company’s stock valued at $392,000 after acquiring an additional 2,886 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Playtika by 314.3% during the fourth quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock valued at $344,000 after purchasing an additional 37,625 shares in the last quarter. Neo Ivy Capital Management increased its holdings in shares of Playtika by 756.9% in the fourth quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock worth $423,000 after purchasing an additional 53,849 shares during the last quarter. CSS LLC IL lifted its position in shares of Playtika by 78.9% in the fourth quarter. CSS LLC IL now owns 50,233 shares of the company’s stock worth $349,000 after buying an additional 22,161 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in Playtika by 41.4% during the fourth quarter. Woodline Partners LP now owns 449,877 shares of the company’s stock valued at $3,122,000 after buying an additional 131,669 shares during the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

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.