Playtika (NASDAQ:PLTK) Stock: Insider Uri Rubin Sells 220,000 Shares

Playtika Holding Corp. (NASDAQ:PLTK) CTO Uri Rubin sold 220,000 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $2.52, for a total value of $554,400.00. Following the completion of the sale, the chief technology officer owned 489,352 shares of the company’s stock, valued at $1,233,167.04. This trade represents a 31.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Playtika Trading Up 5.4%

Shares of NASDAQ PLTK traded up $0.14 during mid-day trading on Tuesday, reaching $2.73. 1,612,406 shares of the company’s stock were exchanged, compared to its average volume of 1,554,771. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -3.74 and a beta of 1.08. The business has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $3.04. Playtika Holding Corp. has a twelve month low of $1.88 and a twelve month high of $4.42.

Playtika (NASDAQ:PLTK) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. Playtika had a negative return on equity of 65.82% and a negative net margin of 9.89%. The business had revenue of $673.80 million for the quarter, compared to analysts’ expectations of $666.98 million. During the same quarter in the previous year, the business posted $0.11 EPS. Playtika’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts predict that Playtika Holding Corp. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTK has been the topic of a number of research reports. Wall Street Zen lowered shares of Playtika from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Playtika in a report on Wednesday, August 26th. Wedbush lowered their price objective on shares of Playtika from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Friday. Roth Capital dropped their price objective on shares of Playtika from $3.50 to $2.75 and set a “neutral” rating on the stock in a report on Monday, August 31st. Finally, The Goldman Sachs Group set a $3.75 price objective on shares of Playtika in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.35.

Institutional Trading of Playtika

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTK. BlackRock Inc. bought a new position in Playtika during the 2nd quarter worth $22,230,000. Man Group plc acquired a new position in Playtika during the 2nd quarter worth about $2,554,000. Bank of New York Mellon Corp bought a new stake in shares of Playtika in the 2nd quarter valued at about $946,000. Tidal Investments LLC grew its position in shares of Playtika by 153.0% in the 2nd quarter. Tidal Investments LLC now owns 353,984 shares of the company’s stock valued at $1,317,000 after buying an additional 214,093 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Playtika by 1,170.3% in the third quarter. International Assets Investment Management LLC now owns 152,651 shares of the company’s stock valued at $327,000 after buying an additional 140,634 shares during the period. 11.94% of the stock is currently owned by institutional investors and hedge funds.

About Playtika

Playtika Holding Corp. develops and publishes free-to-play mobile games, with a focus on social casino and casual gaming. Its games are available on mobile devices and online, and generate revenue primarily through in-game purchases and advertising. Its portfolio includes titles such as Slotomania, Caesars Slots, Bingo Blitz and June’s Journey. Playtika was founded in 2010 and has expanded its portfolio through acquisitions, including the 2018 purchase of German game developer Wooga. Founded in Israel, Playtika serves players in markets around the world.