State Street Corp Boosts Holdings in Playtika Holding Corp. (NASDAQ:PLTK)

State Street Corp grew its stake in Playtika Holding Corp. (NASDAQ:PLTK) by 12.9% during the 3rd quarter, Holdings Channel reports. The firm owned 1,317,709 shares of the company’s stock after purchasing an additional 150,878 shares during the quarter. State Street Corp’s holdings in Playtika were worth $10,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTK. Acadian Asset Management LLC acquired a new position in shares of Playtika during the second quarter valued at approximately $43,000. Headlands Technologies LLC increased its position in shares of Playtika by 648.8% during the second quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock worth $53,000 after purchasing an additional 5,794 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Playtika in the 3rd quarter valued at $62,000. KBC Group NV boosted its stake in Playtika by 19.3% during the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after purchasing an additional 1,266 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Playtika during the third quarter worth $81,000. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Stock Performance

PLTK opened at $6.72 on Friday. Playtika Holding Corp. has a one year low of $6.25 and a one year high of $9.15. The stock has a market capitalization of $2.50 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.88. The business’s 50-day simple moving average is $8.00 and its 200-day simple moving average is $7.76.

Playtika (NASDAQ:PLTK) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $620.80 million for the quarter, compared to analysts’ expectations of $622.46 million. Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. On average, equities research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.10 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.40 annualized dividend and a dividend yield of 5.95%. Playtika’s dividend payout ratio is currently 68.97%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLTK. Wedbush restated an “outperform” rating and set a $11.50 target price on shares of Playtika in a report on Thursday, September 19th. Roth Mkm upped their price objective on shares of Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Macquarie reissued a “neutral” rating and issued a $7.00 price target on shares of Playtika in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.00.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 97,266 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.69, for a total value of $845,241.54. Following the completion of the transaction, the insider now directly owns 202,968,069 shares of the company’s stock, valued at $1,763,792,519.61. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 753,894 shares of company stock worth $6,239,985 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

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.