Brokerages Set Playtika Holding Corp. (NASDAQ:PLTK) Price Target at $8.09

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have been given an average rating of “Hold” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.78.

Several brokerages recently weighed in on PLTK. Robert W. Baird reaffirmed a “neutral” rating and set a $6.00 price target (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Baird R W cut shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Macquarie dropped their price target 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. Morgan Stanley cut their price target on shares of Playtika from $7.25 to $5.75 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Finally, Citigroup lowered their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 7th.

Institutional Investors Weigh In On Playtika

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in Playtika by 61.2% during the fourth 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. Allspring Global Investments Holdings LLC increased its position in shares of Playtika by 23,814.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after buying an additional 663,700 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Playtika during the 4th quarter worth $2,402,000. Quantinno Capital Management LP boosted its position in shares of Playtika by 76.0% in the 4th quarter. Quantinno Capital Management LP now owns 692,975 shares of the company’s stock worth $4,809,000 after buying an additional 299,278 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Playtika by 9.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock valued at $20,312,000 after acquiring an additional 241,658 shares during the last quarter. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Stock Down 0.2 %

PLTK opened at $4.89 on Thursday. The business has a 50 day moving average price of $5.25 and a two-hundred day moving average price of $6.80. Playtika has a 52 week low of $3.97 and a 52 week high of $9.16. The company has a market cap of $1.84 billion, a PE ratio of 8.43, a P/E/G ratio of 1.69 and a beta of 0.92.

Playtika Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.18%. Playtika’s payout ratio is 90.91%.

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.