Playtika (NASDAQ:PLTK) Stock Price Up 7% – What’s Next?
by Kim Johansen · The Markets DailyPlaytika Holding Corp. (NASDAQ:PLTK – Get Free Report)’s share price rose 7% during mid-day trading on Monday . The stock traded as high as $3.51 and last traded at $3.37. Approximately 2,965,505 shares traded hands during mid-day trading, an increase of 111% from the average daily volume of 1,407,508 shares. The stock had previously closed at $3.15.
Analyst Ratings Changes
PLTK has been the subject of several recent analyst reports. Roth Mkm lifted their target price on shares of Playtika from $3.00 to $3.50 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a report on Friday, May 29th. Citigroup decreased their price objective on shares of Playtika from $7.00 to $5.50 and set a “buy” rating for the company in a report on Friday, February 20th. TD Cowen reissued a “buy” rating on shares of Playtika in a report on Tuesday, June 9th. Finally, The Goldman Sachs Group decreased their price objective on shares of Playtika from $4.75 to $4.25 and set a “neutral” rating for the company in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Playtika currently has an average rating of “Hold” and a consensus price target of $4.00.
Read Our Latest Research Report on Playtika
Playtika Stock Up 4.2%
The firm has a market capitalization of $1.33 billion, a PE ratio of -4.53 and a beta of 1.08. The stock’s fifty day simple moving average is $3.43 and its 200 day simple moving average is $3.47.
Playtika (NASDAQ:PLTK – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). Playtika had a negative return on equity of 67.46% and a negative net margin of 10.54%.The firm had revenue of $744.70 million during the quarter, compared to the consensus estimate of $694.69 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts predict that Playtika Holding Corp. will post 0.64 EPS for the current year.
Hedge Funds Weigh In On Playtika
Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Playtika by 65.7% during the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock valued at $29,630,000 after purchasing an additional 2,511,228 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Playtika by 20.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock valued at $15,455,000 after acquiring an additional 679,564 shares during the period. The Manufacturers Life Insurance Company increased its stake in Playtika by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock worth $17,541,000 after buying an additional 595,494 shares during the period. Vanguard Group Inc. increased its stake in Playtika by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,191,732 shares of the company’s stock worth $12,416,000 after buying an additional 432,060 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Playtika by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,765,918 shares of the company’s stock worth $6,976,000 after acquiring an additional 33,306 shares in the last quarter. Institutional investors own 11.94% of the company’s stock.
About Playtika
Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.
The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.