Brokerages Set Playtika Holding Corp. (NASDAQ:PLTK) Price Target at $7.78

Playtika Holding Corp. (NASDAQ:PLTK) has been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.78.

A number of equities analysts have recently issued reports on PLTK shares. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Macquarie dropped their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Bank of America raised Playtika from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Citigroup dropped their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $11.50 target price on shares of Playtika in a research note on Friday, May 2nd.

Insiders Place Their Bets

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 200,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $5.00, for a total value of $1,000,000.00. Following the completion of the transaction, the insider now owns 200,347,048 shares of the company’s stock, valued at approximately $1,001,735,240. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Playtika

A number of large investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in Playtika by 117.1% during the 1st quarter. Allworth Financial LP now owns 4,996 shares of the company’s stock worth $26,000 after acquiring an additional 2,695 shares during the period. Sterling Capital Management LLC raised its stake 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. Quarry LP acquired a new stake in shares of Playtika during the first quarter worth about $29,000. GAMMA Investing LLC boosted its position in Playtika by 146.0% in the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock valued at $34,000 after buying an additional 2,910 shares during the last quarter. Finally, US Bancorp DE increased its holdings in Playtika by 280.9% in the 1st quarter. US Bancorp DE now owns 6,707 shares of the company’s stock worth $35,000 after buying an additional 4,946 shares during the period. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Stock Performance

Shares of NASDAQ PLTK opened at $5.00 on Monday. Playtika has a 52-week low of $3.97 and a 52-week high of $9.16. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.69 and a beta of 0.91. The stock has a 50 day moving average price of $4.96 and a 200 day moving average price of $6.50.

Playtika (NASDAQ:PLTK) last issued its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $706.00 million during the quarter, compared to analysts’ expectations of $699.67 million. Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. Playtika’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. Analysts forecast that Playtika will post 0.65 earnings per share for the current year.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 23rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend is Monday, June 23rd. Playtika’s dividend payout ratio (DPR) is presently 105.26%.

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.