Playtika (NASDAQ:PLTK) Shares Gap Down to $9.09

Shares of Playtika Holding Corp. (NASDAQ:PLTK) gapped down before the market opened on Wednesday . The stock had previously closed at $9.09, but opened at $8.81. Playtika shares last traded at $8.83, with a volume of 15,553 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLTK. The Goldman Sachs Group dropped their price objective on Playtika from $11.00 to $8.75 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Roth Mkm upped their target price on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Robert W. Baird upped their target price on Playtika from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Stifel Nicolaus lowered their target price on Playtika from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Wedbush lowered their target price on Playtika from $14.75 to $11.50 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.30.

Playtika Stock Down 1.0 %

The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.79. The business has a 50 day moving average of $7.44 and a 200 day moving average of $7.74.

Playtika (NASDAQ:PLTK) last released its earnings results on Monday, February 26th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.07). Playtika had a negative return on equity of 94.21% and a net margin of 7.96%. The business had revenue of $637.90 million for the quarter, compared to analysts’ expectations of $630.26 million. During the same quarter last year, the company posted $0.24 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts predict that Playtika Holding Corp. will post 0.67 earnings per share for the current year.

Playtika Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.40 annualized dividend and a yield of 4.58%. Playtika’s dividend payout ratio (DPR) is presently 72.73%.

Insider Buying and Selling

In related news, insider Gili Brudno sold 67,250 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $8.72, for a total transaction of $586,420.00. Following the transaction, the insider now directly owns 201,750 shares in the company, valued at $1,759,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Playtika

A number of large investors have recently modified their holdings of PLTK. Raymond James & Associates raised its holdings in shares of Playtika by 18.3% in the 3rd quarter. Raymond James & Associates now owns 75,811 shares of the company’s stock worth $730,000 after purchasing an additional 11,706 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Playtika by 146.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 53,232 shares of the company’s stock worth $513,000 after purchasing an additional 31,610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Playtika in the third quarter valued at about $161,000. LSV Asset Management grew its stake in shares of Playtika by 219.3% in the third quarter. LSV Asset Management now owns 4,603,513 shares of the company’s stock valued at $44,332,000 after buying an additional 3,161,580 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Playtika by 346.6% in the third quarter. Los Angeles Capital Management LLC now owns 174,555 shares of the company’s stock valued at $1,681,000 after buying an additional 135,470 shares in the last quarter. 11.94% of the stock is currently 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.