Playtika (NASDAQ:PLTK) Lowered to “Hold” Rating by Baird R W

Playtika (NASDAQ:PLTK) was downgraded by research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Roth Mkm increased their target price on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Macquarie dropped their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $11.50 target price on shares of Playtika in a research note on Wednesday. Finally, Robert W. Baird reissued a “neutral” rating and set a $6.00 price target (down previously from $9.00) on shares of Playtika in a research report on Friday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.21.

Playtika Stock Down 7.4 %

Playtika stock opened at $5.28 on Friday. The firm has a fifty day simple moving average of $7.02 and a two-hundred day simple moving average of $7.54. Playtika has a twelve month low of $5.22 and a twelve month high of $9.15. The company has a market capitalization of $1.97 billion, a PE ratio of 9.10, a P/E/G ratio of 1.69 and a beta of 0.92.

Insiders Place Their Bets

In related news, major shareholder Holding Uk Ltd Playtika II sold 291,508 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $8.17, for a total transaction of $2,381,620.36. Following the transaction, the insider now owns 201,000,143 shares in the company, valued at $1,642,171,168.31. The trade was a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 491,921 shares of company stock worth $4,004,775. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV boosted its position in shares of Playtika by 19.3% during the third quarter. KBC Group NV now owns 7,820 shares of the company’s stock valued at $62,000 after purchasing an additional 1,266 shares in the last quarter. Covestor Ltd lifted its position in Playtika by 11.4% during the fourth quarter. Covestor Ltd now owns 14,103 shares of the company’s stock valued at $98,000 after buying an additional 1,447 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after buying an additional 1,534 shares in the last quarter. Choreo LLC grew its position in shares of Playtika by 14.9% in the 4th quarter. Choreo LLC now owns 12,485 shares of the company’s stock worth $90,000 after buying an additional 1,619 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Playtika by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company’s stock worth $3,726,000 after acquiring an additional 1,639 shares in the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Company 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.