Playtech (LON:PTEC) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Playtech plc (LON:PTEC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 312 and traded as high as GBX 369.80. Playtech shares last traded at GBX 351.20, with a volume of 1,259,341 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on PTEC. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a report on Friday, January 23rd. Jefferies Financial Group reiterated a “hold” rating and set a GBX 405 price target on shares of Playtech in a report on Thursday, April 9th. Finally, Citigroup lifted their price target on shares of Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a report on Monday, March 30th.

Playtech Trading Down 0.3%

The stock has a market capitalization of £987.18 million, a price-to-earnings ratio of 0.72, a PEG ratio of 1.28 and a beta of 0.63. The company has a debt-to-equity ratio of 24.36, a current ratio of 1.42 and a quick ratio of 1.09. The business’s 50-day simple moving average is GBX 368.45 and its two-hundred day simple moving average is GBX 312.

Playtech declared that its Board of Directors has authorized a share repurchase plan on Friday, March 27th that allows the company to buyback 5,660,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.