Brokerages Set Playtika Holding Corp. (NASDAQ:PLTK) Target Price at $9.29

Playtika Holding Corp. (NASDAQ:PLTK) has received an average recommendation of “Hold” from the twelve research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.29.

PLTK has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Wedbush reiterated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Thursday, September 19th. Finally, Roth Mkm cut their target price on Playtika from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently added to or reduced their stakes in PLTK. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Playtika in the 2nd quarter valued at about $31,000. Versant Capital Management Inc purchased a new stake in Playtika in the 2nd quarter valued at approximately $36,000. Acadian Asset Management LLC purchased a new stake in Playtika in the 2nd quarter valued at approximately $43,000. Headlands Technologies LLC boosted its holdings in Playtika by 648.8% in the 2nd quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock valued at $53,000 after purchasing an additional 5,794 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in Playtika in the 3rd quarter valued at approximately $81,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Price Performance

Shares of NASDAQ PLTK opened at $7.63 on Monday. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 1.60 and a beta of 0.85. The business has a 50-day moving average of $7.61 and a two-hundred day moving average of $7.74. Playtika has a 1 year low of $6.25 and a 1 year high of $9.23.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $627.00 million during the quarter, compared to the consensus estimate of $640.27 million. Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. Playtika’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. As a group, equities research analysts expect that Playtika will post 0.73 earnings per share for the current year.

Playtika Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.24%. The ex-dividend date was Friday, September 20th. Playtika’s dividend payout ratio (DPR) is presently 70.18%.

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.