Playtech (LON:PTEC) Share Price Passes Above 200-Day Moving Average – Time to Sell?

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 309.46 and traded as high as GBX 427. Playtech shares last traded at GBX 418.20, with a volume of 30,353,111 shares.

Analyst Upgrades and Downgrades

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

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 company has a market capitalization of £1.21 billion, a PE ratio of 0.88, a PEG ratio of 1.28 and a beta of 0.63. The firm has a 50-day moving average of GBX 357.25 and a 200 day moving average of GBX 309.85.

Playtech announced that its board has approved a stock repurchase plan on Friday, March 27th that allows the company to buyback 5,660,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.