Playtika (NASDAQ:PLTK) Sets New 12-Month Low – Here’s Why

Playtika Holding Corp. (NASDAQ:PLTK)’s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $2.04 and last traded at $2.04, with a volume of 1,025 shares traded. The stock had previously closed at $2.08.

Wall Street Analysts Forecast Growth

PLTK has been the topic of several analyst reports. Wedbush lifted their price target on Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Morgan Stanley set a $4.25 price objective on shares of Playtika in a report on Monday, August 10th. The Goldman Sachs Group set a $3.75 price objective on shares of Playtika in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Playtika in a research note on Wednesday, August 26th. Finally, Citigroup decreased their target price on shares of Playtika from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.67.

Playtika Price Performance

The business has a 50 day simple moving average of $2.24 and a 200 day simple moving average of $3.09. The company has a market capitalization of $785.73 million, a price-to-earnings ratio of -2.82 and a beta of 1.07.

Institutional Investors Weigh In On Playtika

Several institutional investors and hedge funds have recently modified their holdings of PLTK. Independent Financial Group LLC acquired a new position in Playtika during the 1st quarter worth about $28,000. Sanctuary Advisors LLC purchased a new position in Playtika during the 2nd quarter valued at about $43,000. Pallas Capital Advisors LLC acquired a new position in Playtika in the 2nd quarter valued at about $45,000. Bull Harbor Capital LLC purchased a new stake in Playtika during the first quarter worth about $50,000. Finally, Callan Family Office LLC purchased a new stake in Playtika during the second quarter worth about $70,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

About Playtika

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and web games. Its business focuses on social casino, casual, and other interactive gaming experiences that generate revenue through in-game purchases and advertising.

Playtika’s portfolio has included widely recognized titles such as Slotomania, Bingo Blitz, House of Fun, Caesars Slots, and World Series of Poker. The company uses data analytics, live-operations capabilities, and ongoing content updates to engage players and support the long-term performance of its games.

Founded in 2010, Playtika initially helped pioneer free-to-play social casino gaming on social networks and later expanded into mobile platforms.