Playtech (LON:PTEC) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Playtech plc (LON:PTEC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 313.94 and traded as high as GBX 347.80. Playtech shares last traded at GBX 345.60, with a volume of 813,864 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTEC. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 405 price target on shares of Playtech in a research note on Thursday, April 9th. Finally, Citigroup upped their price target on shares of Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a research note on Monday, March 30th.

Playtech Price Performance

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 stock’s fifty day simple moving average is GBX 367.60 and its 200-day simple moving average is GBX 314.26. The company has a market capitalization of £999.14 million, a P/E ratio of 0.74, a PEG ratio of 1.28 and a beta of 0.65.

Playtech announced that its board has initiated a share buyback plan on Friday, March 27th that permits the company to buyback 5,660,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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.