Playtika’s (PLTK) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Playtika (NASDAQ:PLTK) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $11.50 price objective on the stock.

PLTK has been the topic of several other research reports. Macquarie cut shares of Playtika from an outperform rating to a neutral rating and set a $9.00 price target on the stock. in a report on Thursday, June 13th. UBS Group initiated coverage on shares of Playtika in a research note on Monday, June 24th. They set a neutral rating and a $8.50 target price on the stock. Roth Mkm lowered their price objective on shares of Playtika from $9.00 to $8.00 and set a neutral rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley lifted their price objective on Playtika from $7.40 to $8.25 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Playtika currently has a consensus rating of Hold and a consensus target price of $9.29.

Playtika Trading Down 3.3 %

PLTK stock opened at $7.82 on Thursday. The firm’s 50-day moving average price is $7.46 and its two-hundred day moving average price is $7.63. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.01 and a beta of 0.85. Playtika has a 12-month low of $6.25 and a 12-month high of $10.28.

Playtika (NASDAQ:PLTK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $627.00 million during the quarter, compared to analyst estimates of $640.27 million. Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. Playtika’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. Equities analysts predict that Playtika will post 0.73 EPS for the current year.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.12%. The ex-dividend date is Friday, September 20th. Playtika’s dividend payout ratio (DPR) is 72.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLTK. Robeco Institutional Asset Management B.V. lifted its position in Playtika by 5.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 107,146 shares of the company’s stock valued at $934,000 after acquiring an additional 5,544 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Playtika in the fourth quarter worth $353,000. Aigen Investment Management LP bought a new position in shares of Playtika during the fourth quarter valued at $98,000. Commerce Bank purchased a new stake in shares of Playtika during the fourth quarter valued at $88,000. Finally, Alaska Permanent Fund Corp increased its holdings in Playtika by 362.8% in the 1st quarter. Alaska Permanent Fund Corp now owns 225,673 shares of the company’s stock worth $1,591,000 after buying an additional 176,913 shares in the last quarter. Institutional investors own 11.94% of the company’s stock.

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.