Citigroup Cuts Playtika (NASDAQ:PLTK) Price Target to $9.00

Playtika (NASDAQ:PLTK) had its price target trimmed by Citigroup from $10.00 to $9.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently commented on PLTK. Baird R W downgraded Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Macquarie dropped their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Roth Mkm increased their price objective on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Robert W. Baird reiterated a “neutral” rating and issued a $6.00 price objective (down previously from $9.00) on shares of Playtika in a report on Friday, February 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.32.

Playtika Price Performance

Shares of NASDAQ PLTK opened at $5.20 on Friday. The stock’s 50-day moving average is $6.86 and its two-hundred day moving average is $7.48. Playtika has a 1-year low of $4.87 and a 1-year high of $9.15. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a yield of 7.69%. Playtika’s dividend payout ratio is presently 90.91%.

Insider Buying and Selling

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.54, for a total transaction of $572,459.42. Following the completion of the sale, the insider now directly owns 200,554,660 shares of the company’s stock, valued at approximately $1,512,182,136.40. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of Playtika

A number of hedge funds have recently added to or reduced their stakes in PLTK. Sterling Capital Management LLC lifted its position in Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after acquiring an additional 1,534 shares during the period. GAMMA Investing LLC lifted its position in Playtika by 146.0% during the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after acquiring an additional 2,910 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Playtika by 148.7% in the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after buying an additional 3,496 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Playtika in the 3rd quarter valued at approximately $56,000. Finally, R Squared Ltd acquired a new stake in shares of Playtika in the 4th quarter valued at approximately $57,000. 11.94% of the stock is owned by institutional investors and hedge funds.

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.