Playtika (NASDAQ:PLTK) Downgraded to “Hold” Rating by Wall Street Zen

Playtika (NASDAQ:PLTK) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

PLTK has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Playtika in a research note on Wednesday, October 8th. Loop Capital set a $3.75 target price on shares of Playtika in a report on Monday, November 3rd. UBS Group cut their price target on shares of Playtika from $5.50 to $4.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Wedbush restated an “outperform” rating and issued a $7.00 price target on shares of Playtika in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Playtika Price Performance

Shares of PLTK traded up $0.09 during mid-day trading on Friday, reaching $4.27. The company’s stock had a trading volume of 2,560,471 shares, compared to its average volume of 2,075,276. Playtika has a 12-month low of $3.31 and a 12-month high of $8.80. The stock has a market cap of $1.60 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.41 and a beta of 0.85. The company’s 50 day moving average is $3.67 and its 200 day moving average is $4.29.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $674.60 million during the quarter, compared to the consensus estimate of $669.60 million. Playtika had a negative return on equity of 104.93% and a net margin of 3.16%.The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. Playtika has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Playtika will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Allworth Financial LP grew its position in Playtika by 117.1% during the first quarter. Allworth Financial LP now owns 4,996 shares of the company’s stock valued at $26,000 after acquiring an additional 2,695 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Playtika during the 2nd quarter worth $27,000. Quarry LP purchased a new stake in shares of Playtika during the first quarter worth about $29,000. US Bancorp DE increased its holdings in Playtika by 280.9% during the 1st quarter. US Bancorp DE now owns 6,707 shares of the company’s stock worth $35,000 after purchasing an additional 4,946 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake in Playtika by 15,890.5% during the 1st quarter. Brooklyn Investment Group now owns 6,716 shares of the company’s stock valued at $35,000 after acquiring an additional 6,674 shares during the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

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.