Playtech (LON:PTEC) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Playtech plc (LON:PTEC) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 320.50 and traded as high as GBX 351. Playtech shares last traded at GBX 348.05, with a volume of 858,152 shares changing hands.

Analysts Set New Price Targets

PTEC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Playtech from GBX 443 to GBX 460 and gave the company a “buy” rating in a research report on Thursday, May 21st. Citigroup raised 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. Finally, Jefferies Financial Group reissued a “hold” rating and issued a GBX 405 price target on shares of Playtech in a research note on Wednesday, May 20th.

Playtech Stock Down 0.8%

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 367.27 and its 200 day simple moving average is GBX 320.50. The company has a market capitalization of £967.05 million, a PE ratio of 0.72, a P/E/G ratio of 1.28 and a beta of 0.65.

Playtech declared that its Board of Directors has approved a share repurchase program on Friday, March 27th that permits the company to buyback 5,660,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Playtech

In other news, insider Chris McGinnis bought 27,080 shares of Playtech stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of GBX 372 per share, with a total value of £100,737.60. Also, insider Mor Weizer bought 71,321 shares of Playtech stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of GBX 375 per share, for a total transaction of £267,453.75. 0.71% of the stock is owned by insiders.

Playtech Company Profile

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.