Playtika Holding Corp. $PLTK Shares Sold by Baron Wealth Management LLC

Baron Wealth Management LLC cut its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 26.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,251 shares of the company’s stock after selling 6,263 shares during the period. Baron Wealth Management LLC’s holdings in Playtika were worth $82,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Playtika by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,610,729 shares of the company’s stock worth $18,667,000 after purchasing an additional 137,482 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Playtika by 6.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,113,062 shares of the company’s stock worth $16,095,000 after purchasing an additional 186,208 shares in the last quarter. Acadian Asset Management LLC grew its stake in Playtika by 366.2% in the first quarter. Acadian Asset Management LLC now owns 1,547,829 shares of the company’s stock worth $7,989,000 after purchasing an additional 1,215,843 shares in the last quarter. Jane Street Group LLC grew its stake in Playtika by 536.3% in the first quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock worth $7,003,000 after purchasing an additional 1,141,685 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Playtika by 143.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 719,263 shares of the company’s stock worth $3,719,000 after purchasing an additional 423,738 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLTK. Wedbush decreased their price target on Playtika from $11.50 to $7.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. UBS Group decreased their price target on Playtika from $5.50 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Finally, Wall Street Zen upgraded Playtika from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.66.

Playtika Trading Down 3.6%

Shares of NASDAQ PLTK opened at $3.46 on Thursday. Playtika Holding Corp. has a 12-month low of $3.42 and a 12-month high of $8.80. The company has a market cap of $1.30 billion, a PE ratio of 14.42, a P/E/G ratio of 1.21 and a beta of 0.84. The stock has a 50 day simple moving average of $4.05 and a 200-day simple moving average of $4.60.

Playtika (NASDAQ:PLTK) last announced its earnings results on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.13). Playtika had a negative return on equity of 83.90% and a net margin of 3.23%.The firm had revenue of $696.00 million for the quarter, compared to the consensus estimate of $706.03 million. During the same period in the previous year, the firm earned $0.23 EPS. Playtika’s revenue for the quarter was up 11.0% on a year-over-year basis. Playtika has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.40 annualized dividend and a yield of 11.6%. Playtika’s payout ratio is presently 166.67%.

Playtika Profile

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.