Analysts Set Playtika Holding Corp. (NASDAQ:PLTK) Target Price at $9.29

Playtika Holding Corp. (NASDAQ:PLTK) has received a consensus rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.29.

PLTK has been the subject of a number of recent analyst reports. Macquarie lowered shares of Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Thursday, June 13th. Wedbush reiterated an “outperform” rating and set a $11.50 target price on shares of Playtika in a report on Thursday, September 19th. UBS Group began coverage on Playtika in a report on Monday, June 24th. They set a “neutral” rating and a $8.50 price target on the stock. Morgan Stanley increased their price objective on Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Roth Mkm reduced their target price on Playtika from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Playtika

A number of large investors have recently made changes to their positions in PLTK. Sanctuary Advisors LLC bought a new position in Playtika in the second quarter worth approximately $159,000. Ariadne Wealth Management LP bought a new position in Playtika in the 2nd quarter worth $82,000. Susquehanna Fundamental Investments LLC lifted its position in Playtika by 365.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 171,603 shares of the company’s stock valued at $1,351,000 after purchasing an additional 134,732 shares in the last quarter. AQR Capital Management LLC grew its holdings in Playtika by 66.6% during the second quarter. AQR Capital Management LLC now owns 7,836,383 shares of the company’s stock valued at $61,672,000 after purchasing an additional 3,132,272 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Playtika in the second quarter worth about $398,000. 11.94% of the stock is currently owned by institutional investors.

Playtika Trading Down 0.4 %

Shares of Playtika stock opened at $7.94 on Thursday. The company’s 50-day moving average price is $7.46 and its 200-day moving average price is $7.66. Playtika has a 12-month low of $6.25 and a 12-month high of $9.87. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.62 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $627.00 million during the quarter, compared to the consensus estimate of $640.27 million. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. On average, sell-side analysts predict that Playtika will post 0.73 earnings per share for the current year.

Playtika Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Friday, September 20th. Playtika’s dividend payout ratio (DPR) is presently 72.73%.

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.