Playtika Holding Corp. $PLTK Shares Bought by ARK Investment Management LLC

ARK Investment Management LLC raised its position in Playtika Holding Corp. (NASDAQ:PLTK) by 23.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 338,976 shares of the company’s stock after acquiring an additional 63,604 shares during the period. ARK Investment Management LLC’s holdings in Playtika were worth $1,603,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in shares of Playtika by 366.2% in the 1st quarter. Acadian Asset Management LLC now owns 1,547,829 shares of the company’s stock valued at $7,989,000 after purchasing an additional 1,215,843 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Playtika by 536.3% in the 1st quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock valued at $7,003,000 after purchasing an additional 1,141,685 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Playtika by 143.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 719,263 shares of the company’s stock valued at $3,719,000 after acquiring an additional 423,738 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Playtika by 6.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,113,062 shares of the company’s stock valued at $16,095,000 after acquiring an additional 186,208 shares in the last quarter. Finally, New Vernon Capital Holdings II LLC purchased a new position in Playtika during the 1st quarter valued at about $849,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLTK. Wedbush dropped their target price 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Playtika in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Playtika from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, UBS Group lowered their price target on shares of Playtika from $5.50 to $4.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Playtika has an average rating of “Hold” and an average target price of $6.66.

Playtika Stock Performance

PLTK opened at $3.62 on Thursday. The company’s 50 day simple moving average is $3.64 and its 200 day simple moving average is $4.38. Playtika Holding Corp. has a 1 year low of $3.31 and a 1 year high of $8.80. The stock has a market capitalization of $1.36 billion, a PE ratio of 15.08, a P/E/G ratio of 1.23 and a beta of 0.86.

Playtika (NASDAQ:PLTK) last released its earnings results on Thursday, August 7th. The company reported $0.02 earnings per share (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 company had revenue of $696.00 million during the quarter, compared to analyst estimates of $706.03 million. During the same period in the prior year, the business posted $0.23 earnings per share. Playtika’s revenue was up 11.0% on a year-over-year basis. Playtika has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend was Friday, September 26th. Playtika’s payout ratio is 166.67%.

Playtika Company 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.