Playtika (NASDAQ:PLTK) Trading Up 8.2% – Time to Buy?

Shares of Playtika Holding Corp. (NASDAQ:PLTK) shot up 8.2% during mid-day trading on Monday . The company traded as high as $3.89 and last traded at $3.90. 883,705 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,793,845 shares. The stock had previously closed at $3.60.

Analyst Ratings Changes

Several research firms have weighed in on PLTK. UBS Group lowered their price target on shares of Playtika from $5.50 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Wall Street Zen upgraded shares of Playtika from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Wedbush reduced their price objective on shares of Playtika from $11.50 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Three investment 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.com, Playtika presently has a consensus rating of “Hold” and a consensus target price of $6.66.

Playtika Trading Up 8.2%

The company’s 50 day moving average is $3.90 and its 200-day moving average is $4.53. The company has a market capitalization of $1.46 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.21 and a beta of 0.84.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings data 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 net margin of 3.23% and a negative return on equity of 83.90%. The firm had revenue of $696.00 million for the quarter, compared to analysts’ expectations of $706.03 million. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Playtika has set its FY 2025 guidance at EPS. Analysts predict that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Friday, September 26th. Playtika’s dividend payout ratio (DPR) is presently 166.67%.

Hedge Funds Weigh In On Playtika

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP lifted its stake in shares of Playtika by 117.1% in the 1st quarter. Allworth Financial LP now owns 4,996 shares of the company’s stock worth $26,000 after purchasing an additional 2,695 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Playtika in the 2nd quarter worth approximately $27,000. Quarry LP bought a new position in shares of Playtika in the 1st quarter worth approximately $29,000. US Bancorp DE lifted its stake in shares of Playtika by 280.9% in the 1st quarter. US Bancorp DE now owns 6,707 shares of the company’s stock worth $35,000 after purchasing an additional 4,946 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Playtika by 15,890.5% in the 1st quarter. Brooklyn Investment Group now owns 6,716 shares of the company’s stock worth $35,000 after purchasing an additional 6,674 shares during the period. Institutional investors own 11.94% of the company’s stock.

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.