Playtika (NASDAQ:PLTK) Stock Rating Lowered by Wall Street Zen

Playtika (NASDAQ:PLTK) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other brokerages have also commented on PLTK. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a report on Friday, May 29th. The Goldman Sachs Group set a $3.75 price objective on shares of Playtika in a report on Friday, August 7th. Morgan Stanley set a $4.25 target price on shares of Playtika in a research report on Monday, August 10th. Roth Capital increased their target price on Playtika from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, Wedbush raised their price target on Playtika from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.11.

Playtika Price Performance

Shares of PLTK opened at $2.37 on Friday. The firm’s 50 day simple moving average is $3.52 and its 200 day simple moving average is $3.35. The company has a market capitalization of $903.97 million, a P/E ratio of -3.25 and a beta of 1.09. Playtika has a 1-year low of $2.09 and a 1-year high of $4.42.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Playtika during the second quarter valued at about $22,230,000. AQR Capital Management LLC grew its stake in shares of Playtika by 65.7% during the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock valued at $29,630,000 after buying an additional 2,511,228 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Playtika by 536.3% in the first quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock worth $7,003,000 after buying an additional 1,141,685 shares during the period. Man Group plc purchased a new position in shares of Playtika in the second quarter worth about $2,554,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Playtika by 20.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock worth $15,455,000 after buying an additional 679,564 shares during the period. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.