Creative Planning Lowers Stock Position in Playtika Holding Corp. (NASDAQ:PLTK)

Creative Planning reduced its position in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 40.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,041 shares of the company’s stock after selling 6,818 shares during the period. Creative Planning’s holdings in Playtika were worth $80,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of Playtika during the 2nd quarter worth approximately $744,000. CWM LLC lifted its holdings in Playtika by 65.1% during the third quarter. CWM LLC now owns 85,971 shares of the company’s stock worth $681,000 after acquiring an additional 33,902 shares during the period. Vanguard Group Inc. boosted its position in Playtika by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,566,049 shares of the company’s stock worth $25,141,000 after purchasing an additional 76,948 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Playtika by 0.8% in the 1st quarter. Russell Investments Group Ltd. now owns 184,926 shares of the company’s stock valued at $1,304,000 after purchasing an additional 1,495 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Playtika by 365.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 171,603 shares of the company’s stock valued at $1,351,000 after purchasing an additional 134,732 shares during the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Price Performance

Shares of PLTK stock opened at $8.55 on Wednesday. Playtika Holding Corp. has a 1 year low of $6.25 and a 1 year high of $9.23. The company’s fifty day simple moving average is $7.72 and its two-hundred day simple moving average is $7.83. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.72 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Playtika had a net margin of 8.52% and a negative return on equity of 129.21%. The company had revenue of $620.80 million for the quarter, compared to the consensus estimate of $622.46 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Playtika Holding Corp. will post 0.71 EPS for the current year.

Playtika Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be given a $0.10 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.68%. Playtika’s dividend payout ratio (DPR) is currently 68.97%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PLTK. Macquarie reissued a “neutral” rating and issued a $7.00 price target on shares of Playtika in a report on Friday, November 8th. Roth Mkm increased their target price on shares of Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley raised their price target on shares of Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Playtika has an average rating of “Hold” and a consensus target price of $9.18.

Playtika 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.