Jacobs Levy Equity Management Inc. Raises Stake in Playtika Holding Corp. (NASDAQ:PLTK)

Jacobs Levy Equity Management Inc. increased its stake in Playtika Holding Corp. (NASDAQ:PLTK) by 0.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,350,298 shares of the company’s stock after buying an additional 12,546 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.36% of Playtika worth $9,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC lifted its holdings in Playtika by 109.1% during the fourth quarter. Quent Capital LLC now owns 3,092 shares of the company’s stock valued at $27,000 after purchasing an additional 1,613 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Playtika by 772.0% during the fourth quarter. International Assets Investment Management LLC now owns 3,924 shares of the company’s stock valued at $34,000 after purchasing an additional 3,474 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Playtika during the first quarter valued at about $82,000. Delap Wealth Advisory LLC purchased a new stake in Playtika during the first quarter valued at about $84,000. Finally, Commerce Bank purchased a new stake in Playtika during the fourth quarter valued at about $88,000. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Trading Up 0.3 %

Shares of NASDAQ:PLTK traded up $0.02 during trading on Tuesday, reaching $7.60. 499,338 shares of the company traded hands, compared to its average volume of 938,142. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.12 and a beta of 0.85. Playtika Holding Corp. has a 52-week low of $6.25 and a 52-week high of $12.07. The business’s fifty day moving average is $8.11 and its 200-day moving average is $7.64.

Playtika (NASDAQ:PLTK) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $651.20 million during the quarter, compared to analyst estimates of $642.38 million. Playtika had a negative return on equity of 94.21% and a net margin of 7.96%. On average, sell-side analysts predict that Playtika Holding Corp. will post 0.66 earnings per share for the current fiscal year.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend was Friday, June 21st. Playtika’s payout ratio is 72.73%.

Analysts Set New Price Targets

PLTK has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Playtika from $7.40 to $8.25 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Roth Mkm upped their price objective on shares of Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. UBS Group assumed coverage on shares of Playtika in a research report on Monday, June 24th. They issued a “neutral” rating and a $8.50 price objective on the stock. Macquarie cut shares of Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Thursday, June 13th. Finally, Robert W. Baird upped their price objective on shares of Playtika from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Playtika has a consensus rating of “Hold” and a consensus price target of $10.12.

Insider Buying and Selling

In other Playtika news, insider Gili Brudno sold 67,250 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $8.72, for a total transaction of $586,420.00. Following the completion of the transaction, the insider now owns 201,750 shares of the company’s stock, valued at $1,759,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is currently owned by insiders.

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.