Playtika (NASDAQ:PLTK) Rating Increased to Buy at Wall Street Zen

Playtika (NASDAQ:PLTK) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other analysts also recently issued reports on the company. Morgan Stanley decreased their price target on Playtika from $7.25 to $5.75 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Wedbush decreased their price target on Playtika from $11.50 to $7.00 and set an “outperform” rating for the company in a research note on Friday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.04.

Playtika Price Performance

Shares of PLTK stock opened at $3.80 on Friday. Playtika has a fifty-two week low of $3.66 and a fifty-two week high of $8.80. The stock’s 50-day moving average is $4.67 and its two-hundred day moving average is $5.23. The firm has a market cap of $1.43 billion, a P/E ratio of 15.83, a PEG ratio of 1.02 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.13). The company had revenue of $696.00 million for the quarter, compared to the consensus estimate of $706.03 million. Playtika had a negative return on equity of 78.88% and a net margin of 3.23%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. As a group, research analysts expect that Playtika will post 0.65 EPS for the current year.

Insider Activity at Playtika

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $4.77, for a total value of $719,645.13. Following the completion of the sale, the insider owned 199,359,642 shares in the company, valued at approximately $950,945,492.34. This trade represents a 0.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 739,922 shares of company stock valued at $3,548,194. 5.10% of the stock is currently owned by company insiders.

Institutional Trading of Playtika

Hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in shares of Playtika by 57.2% in 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. Allworth Financial LP lifted its position in shares of Playtika by 117.1% in the 1st quarter. Allworth Financial LP now owns 4,996 shares of the company’s stock worth $26,000 after acquiring an additional 2,695 shares during the period. Quarry LP bought a new stake in shares of Playtika in the 1st quarter worth approximately $29,000. US Bancorp DE lifted its position in shares of Playtika by 280.9% during the 1st quarter. US Bancorp DE now owns 6,707 shares of the company’s stock worth $35,000 after buying an additional 4,946 shares during the period. Finally, Brooklyn Investment Group boosted its stake in Playtika by 15,890.5% in the 1st quarter. Brooklyn Investment Group now owns 6,716 shares of the company’s stock valued at $35,000 after buying an additional 6,674 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.