Playtika (NASDAQ:PLTK) Cut to “Hold” at Baird R W

Baird R W lowered shares of Playtika (NASDAQ:PLTK) from a strong-buy rating to a hold rating in a report released on Friday morning,Zacks.com reports.

Other analysts also recently issued reports about the company. Wedbush reissued an “outperform” rating and issued a $11.50 target price on shares of Playtika in a research report on Wednesday. Robert W. Baird reiterated a “neutral” rating and set a $6.00 price target (down previously from $9.00) on shares of Playtika in a research note on Friday. Macquarie lowered their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Roth Mkm increased their target price on shares of Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.21.

Playtika Stock Down 7.4 %

Playtika stock opened at $5.28 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.69 and a beta of 0.92. The firm has a 50 day moving average price of $7.02 and a 200-day moving average price of $7.54. Playtika has a twelve month low of $5.22 and a twelve month high of $9.15.

Playtika Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 annualized dividend and a dividend yield of 7.58%. Playtika’s payout ratio is currently 68.97%.

Insider Buying and Selling

In related news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.54, for a total value of $572,459.42. Following the transaction, the insider now directly owns 200,554,660 shares in the company, valued at approximately $1,512,182,136.40. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 491,921 shares of company stock worth $4,004,775. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Playtika

A number of institutional investors have recently made changes to their positions in PLTK. Mackenzie Financial Corp lifted its holdings in shares of Playtika by 314.3% during the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock worth $344,000 after acquiring an additional 37,625 shares during the last quarter. Neo Ivy Capital Management raised its position in Playtika by 756.9% during the fourth quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock valued at $423,000 after purchasing an additional 53,849 shares in the last quarter. CSS LLC IL lifted its stake in Playtika by 78.9% during the fourth quarter. CSS LLC IL now owns 50,233 shares of the company’s stock worth $349,000 after purchasing an additional 22,161 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Playtika by 41.4% in the 4th quarter. Woodline Partners LP now owns 449,877 shares of the company’s stock worth $3,122,000 after purchasing an additional 131,669 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Playtika by 411.3% during the 4th quarter. Two Sigma Advisers LP now owns 58,800 shares of the company’s stock valued at $408,000 after purchasing an additional 47,300 shares during 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.