Brokerages Set Playtika Holding Corp. (NASDAQ:PLTK) Target Price at $9.18

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $9.18.

A number of research analysts recently weighed in on PLTK shares. Wedbush reissued an “outperform” rating and set a $11.50 price target on shares of Playtika in a research report on Thursday, September 19th. Morgan Stanley boosted their target price on Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Roth Mkm boosted their price objective on Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Macquarie restated a “neutral” rating and issued a $7.00 price objective on shares of Playtika in a research note on Friday, November 8th.

Playtika Stock Performance

PLTK stock opened at $8.42 on Friday. The company has a market capitalization of $3.14 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85. Playtika has a 52-week low of $6.25 and a 52-week high of $9.23. The business has a 50-day simple moving average of $7.86 and a two-hundred day simple moving average of $7.88.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The company had revenue of $620.80 million for the quarter, compared to the consensus estimate of $622.46 million. During the same quarter last year, the company posted $0.19 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Playtika will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Friday, December 20th. Playtika’s dividend payout ratio is currently 68.97%.

Hedge Funds Weigh In On Playtika

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLTK. CWM LLC lifted its stake in shares of Playtika by 65.1% during the 3rd quarter. CWM LLC now owns 85,971 shares of the company’s stock valued at $681,000 after buying an additional 33,902 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Playtika in the second quarter valued at $744,000. Vanguard Group Inc. raised its stake in shares of Playtika by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,566,049 shares of the company’s stock valued at $25,141,000 after purchasing an additional 76,948 shares during the period. Russell Investments Group Ltd. lifted its holdings in Playtika by 0.8% during the 1st quarter. Russell Investments Group Ltd. now owns 184,926 shares of the company’s stock worth $1,304,000 after purchasing an additional 1,495 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its stake in Playtika by 365.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 171,603 shares of the company’s stock worth $1,351,000 after purchasing an additional 134,732 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.