Playtech (LON:PTEC) Stock Price Down 22.5% – Time to Sell?

Playtech plc (LON:PTEC) shares fell 22.5% on Wednesday . The company traded as low as GBX 210 ($2.80) and last traded at GBX 266.50 ($3.55). 8,431,737 shares changed hands during trading, an increase of 311% from the average session volume of 2,052,740 shares. The stock had previously closed at GBX 344 ($4.59).

Analyst Ratings Changes

A number of research analysts recently weighed in on PTEC shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Playtech from GBX 417 to GBX 433 and gave the company a “buy” rating in a report on Thursday, September 11th. Jefferies Financial Group lifted their price objective on shares of Playtech from GBX 395 to GBX 405 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Peel Hunt restated a “buy” rating and issued a GBX 510 price objective on shares of Playtech in a report on Friday, August 1st.

Playtech Stock Up 0.4%

The firm has a market cap of £862.86 million, a PE ratio of 0.48, a P/E/G ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The firm’s 50-day moving average price is GBX 373.66 and its two-hundred day moving average price is GBX 429.43.

Playtech announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 25th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.