Playtika (NASDAQ:PLTK) Price Target Lowered to $5.75 at Morgan Stanley

Playtika (NASDAQ:PLTK) had its price target lowered by Morgan Stanley from $7.25 to $5.75 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and increased their price target for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Macquarie dropped their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Wedbush reissued an “outperform” rating and set a $11.50 price target on shares of Playtika in a report on Wednesday, February 26th. Baird R W cut shares of Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $6.00 target price (down from $9.00) on shares of Playtika in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.78.

Playtika Stock Down 1.2 %

Shares of NASDAQ:PLTK opened at $4.93 on Thursday. The company has a market cap of $1.85 billion, a PE ratio of 8.50, a P/E/G ratio of 1.69 and a beta of 0.92. Playtika has a fifty-two week low of $3.97 and a fifty-two week high of $9.16. The firm has a 50-day simple moving average of $5.45 and a 200 day simple moving average of $6.88.

Playtika Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a yield of 8.11%. Playtika’s dividend payout ratio is presently 90.91%.

Institutional Trading of Playtika

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTK. Arrowstreet Capital Limited Partnership increased its stake in shares of Playtika by 61.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock valued at $20,290,000 after acquiring an additional 1,109,594 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Playtika by 23,814.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after purchasing an additional 663,700 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Playtika during the 4th quarter valued at $2,402,000. Quantinno Capital Management LP raised its stake in shares of Playtika by 76.0% in the 4th quarter. Quantinno Capital Management LP now owns 692,975 shares of the company’s stock worth $4,809,000 after buying an additional 299,278 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Playtika by 9.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock valued at $20,312,000 after buying an additional 241,658 shares during the period. 11.94% of the stock is currently owned by 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.