Wedbush Securities Inc. Reduces Position in Playtika Holding Corp. $PLTK

Wedbush Securities Inc. decreased its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 89.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,200 shares of the company’s stock after selling 324,575 shares during the period. Wedbush Securities Inc.’s holdings in Playtika were worth $146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTK. Kestra Advisory Services LLC purchased a new position in Playtika during the fourth quarter valued at $32,000. Comerica Bank increased its position in Playtika by 278.9% in the fourth quarter. Comerica Bank now owns 9,108 shares of the company’s stock worth $36,000 after buying an additional 6,704 shares in the last quarter. Independent Financial Group LLC purchased a new stake in Playtika in the first quarter worth about $28,000. ProShare Advisors LLC bought a new position in shares of Playtika in the fourth quarter worth about $41,000. Finally, Keynote Financial Services LLC bought a new position in shares of Playtika in the fourth quarter worth about $41,000. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLTK has been the subject of a number of recent research reports. Citigroup cut their price objective on Playtika from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday. Wedbush increased their price objective on shares of Playtika from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Playtika in a research note on Wednesday, August 26th. The Goldman Sachs Group set a $3.75 price target on Playtika in a research note on Friday, August 7th. Finally, Morgan Stanley set a $4.25 price target on Playtika in a report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.79.

Playtika Price Performance

Playtika stock opened at $2.20 on Friday. The stock has a market cap of $839.12 million, a P/E ratio of -3.01 and a beta of 1.00. Playtika Holding Corp. has a 1 year low of $2.09 and a 1 year high of $4.42. The firm’s 50 day moving average price is $3.26 and its 200-day moving average price is $3.26.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.