Playtika Holding Corp. (NASDAQ:PLTK) Major Shareholder Sells $1,000,000.00 in Stock

Playtika Holding Corp. (NASDAQ:PLTK) major shareholder Holding Uk Ltd Playtika II sold 200,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $5.00, for a total value of $1,000,000.00. Following the completion of the sale, the insider now owns 200,347,048 shares in the company, valued at $1,001,735,240. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Playtika Price Performance

Shares of Playtika stock opened at $5.00 on Monday. The business’s fifty day moving average price is $4.96 and its two-hundred day moving average price is $6.50. The company has a market capitalization of $1.88 billion, a P/E ratio of 8.62, a PEG ratio of 1.69 and a beta of 0.91. Playtika Holding Corp. has a 1-year low of $3.97 and a 1-year high of $9.16.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). Playtika had a net margin of 8.52% and a negative return on equity of 144.73%. The firm had revenue of $706.00 million for the quarter, compared to analyst estimates of $699.67 million. During the same quarter last year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts expect that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 23rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date of this dividend is Monday, June 23rd. Playtika’s payout ratio is 105.26%.

Hedge Funds Weigh In On Playtika

A number of hedge funds have recently modified their holdings of PLTK. Sterling Capital Management LLC grew its holdings in shares of Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after buying an additional 1,534 shares in the last quarter. Allworth Financial LP grew its holdings in shares of 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 buying an additional 2,695 shares in the last quarter. Quarry LP purchased a new position in shares of Playtika during the first quarter valued at $29,000. US Bancorp DE grew its holdings in shares of Playtika by 280.9% during the first quarter. US Bancorp DE now owns 6,707 shares of the company’s stock valued at $35,000 after buying an additional 4,946 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of Playtika by 15,890.5% during the first quarter. Brooklyn Investment Group now owns 6,716 shares of the company’s stock valued at $35,000 after buying an additional 6,674 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PLTK. Macquarie reduced their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Robert W. Baird reiterated a “neutral” rating and set a $6.00 target price (down from $9.00) on shares of Playtika in a research report on Friday, February 28th. Wedbush restated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a report on Friday, May 2nd. Morgan Stanley cut their price objective on Playtika from $7.25 to $5.75 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $6.00 to $6.50 in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.78.

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.