Playtika (NASDAQ:PLTK) Stock Price Up 6.9% – Here’s What Happened

Shares of Playtika Holding Corp. (NASDAQ:PLTK) traded up 6.9% during trading on Monday . The company traded as high as $4.27 and last traded at $4.29. 208,464 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 967,841 shares. The stock had previously closed at $4.01.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PLTK shares. Macquarie decreased their price objective on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Citigroup lowered their price target on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Robert W. Baird restated a “neutral” rating and issued a $6.00 price target (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Wedbush reissued an “outperform” rating and issued a $11.50 target price on shares of Playtika in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Playtika presently has a consensus rating of “Hold” and a consensus price target of $8.32.

Playtika Stock Performance

The stock has a fifty day moving average of $6.29 and a 200 day moving average of $7.23. The company has a market capitalization of $1.65 billion, a P/E ratio of 7.59, a PEG ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a dividend of $0.10 per share. The ex-dividend date is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.09%. Playtika’s payout ratio is currently 90.91%.

Institutional Investors Weigh In On Playtika

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Playtika by 5.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,416 shares of the company’s stock worth $392,000 after purchasing an additional 2,886 shares during the period. Mackenzie Financial Corp boosted its holdings in Playtika by 314.3% in the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock worth $344,000 after buying an additional 37,625 shares during the period. Neo Ivy Capital Management increased its stake in Playtika by 756.9% in the 4th quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock worth $423,000 after buying an additional 53,849 shares in the last quarter. CSS LLC IL raised its holdings in Playtika by 78.9% during the fourth quarter. CSS LLC IL now owns 50,233 shares of the company’s stock valued at $349,000 after acquiring an additional 22,161 shares during the period. Finally, Woodline Partners LP lifted its position in shares of Playtika by 41.4% in the fourth quarter. Woodline Partners LP now owns 449,877 shares of the company’s stock valued at $3,122,000 after acquiring an additional 131,669 shares in the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

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.