Cresset Asset Management LLC Trims Stake in Playtika Holding Corp. (NASDAQ:PLTK)

Cresset Asset Management LLC reduced its position in Playtika Holding Corp. (NASDAQ:PLTK) by 63.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 36,038 shares of the company’s stock after selling 61,907 shares during the period. Cresset Asset Management LLC’s holdings in Playtika were worth $251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PLTK. Sterling Capital Management LLC lifted its holdings in shares of Playtika by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after purchasing an additional 1,534 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Playtika in the 4th quarter valued at about $57,000. Kera Capital Partners Inc. purchased a new stake in shares of Playtika in the 4th quarter valued at about $70,000. Crestline Management LP purchased a new stake in shares of Playtika in the 4th quarter valued at about $71,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of Playtika by 7,917.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 11,305 shares of the company’s stock valued at $78,000 after purchasing an additional 11,164 shares during the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Baird R W downgraded Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Wedbush restated an “outperform” rating and issued a $11.50 price target on shares of Playtika in a research report on Friday, May 2nd. Robert W. Baird restated a “neutral” rating and issued a $6.00 price target (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Macquarie dropped their price target on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Finally, Morgan Stanley dropped their price target on Playtika from $7.25 to $5.75 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Playtika presently has an average rating of “Hold” and a consensus price target of $7.78.

Playtika Trading Down 0.4%

NASDAQ PLTK opened at $5.00 on Friday. The business’s 50 day moving average is $4.96 and its two-hundred day moving average is $6.51. Playtika Holding Corp. has a 12-month low of $3.97 and a 12-month high of $9.16. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.69 and a beta of 0.91.

Playtika (NASDAQ:PLTK) last released its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The business had revenue of $706.00 million for the quarter, compared to analyst estimates of $699.67 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 23rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.00%. The ex-dividend date is Monday, June 23rd. Playtika’s payout ratio is 105.26%.

Insiders Place Their Bets

In other news, major shareholder Holding Uk Ltd Playtika II sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $5.00, for a total transaction of $1,000,000.00. Following the sale, the insider now owns 200,347,048 shares of the company’s stock, valued at $1,001,735,240. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.10% of the stock is currently owned by insiders.

About Playtika

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.