Playtika (NASDAQ:PLTK) Upgraded to Strong-Buy at Wedbush

Playtika (NASDAQ:PLTK) was upgraded by Wedbush to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Morgan Stanley lowered their price target on Playtika from $7.25 to $5.75 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Finally, Citigroup lowered their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Playtika currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.68.

Playtika Trading Up 2.0%

Shares of NASDAQ PLTK opened at $5.00 on Tuesday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.30 and a beta of 0.85. Playtika has a one year low of $3.97 and a one year high of $8.80. The business has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $5.70.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The business had revenue of $706.00 million during the quarter, compared to analyst estimates of $699.67 million. Playtika had a net margin of 5.37% and a negative return on equity of 149.09%. The company’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 EPS. On average, research analysts anticipate that Playtika will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $4.77, for a total transaction of $719,645.13. Following the transaction, the insider owned 199,359,642 shares in the company, valued at approximately $950,945,492.34. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 739,922 shares of company stock valued at $3,548,194 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of Playtika by 117.1% during the first quarter. Allworth Financial LP now owns 4,996 shares of the company’s stock worth $26,000 after acquiring an additional 2,695 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after acquiring an additional 1,534 shares in the last quarter. Quarry LP acquired a new stake in shares of Playtika in the 1st quarter valued at approximately $29,000. US Bancorp DE grew its position in shares of Playtika by 280.9% in the 1st quarter. US Bancorp DE now owns 6,707 shares of the company’s stock valued at $35,000 after acquiring an additional 4,946 shares during the period. Finally, Brooklyn Investment Group grew its holdings in Playtika by 15,890.5% during the first quarter. Brooklyn Investment Group now owns 6,716 shares of the company’s stock worth $35,000 after purchasing an additional 6,674 shares during the period. Institutional investors and hedge funds 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.