Playtech (LON:PTEC) Trading Up 9.2% – Here’s What Happened

Shares of Playtech plc (LON:PTEC) traded up 9.2% during mid-day trading on Tuesday . The company traded as high as GBX 308 and last traded at GBX 298. 2,091,662 shares traded hands during trading, an increase of 141% from the average session volume of 868,488 shares. The stock had previously closed at GBX 273.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PTEC shares. Jefferies Financial Group lowered Playtech to a “hold” rating and cut their price target for the company from GBX 405 to GBX 240 in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft cut their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday.

Playtech Price Performance

The company has a market cap of £841.76 million, a P/E ratio of 0.51, a PEG ratio of 1.28 and a beta of 1.26. The firm’s 50-day moving average is GBX 274.42 and its two-hundred day moving average is GBX 329.72. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09.

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.