Playtika (NASDAQ:PLTK) Trading 6.9% Higher – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLTK shares. Citigroup cut their price target on shares of 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 reiterated 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, February 28th. Wedbush restated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a report on Wednesday, February 26th. Macquarie reduced their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Baird R W lowered Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Playtika presently has an average rating of “Hold” and an average target price of $8.32.

Playtika Stock Down 0.2 %

The company’s fifty day moving average price is $6.29 and its 200-day moving average price is $7.23. The stock has a market capitalization of $1.65 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.09%. The ex-dividend date is Friday, March 21st. Playtika’s dividend payout ratio (DPR) is 90.91%.

Hedge Funds Weigh In On Playtika

Several institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Playtika by 9.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock valued at $20,312,000 after purchasing an additional 241,658 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Playtika by 61.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after acquiring an additional 1,109,594 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Playtika by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock valued at $21,267,000 after acquiring an additional 326,890 shares in the last quarter. FMR LLC boosted its stake in Playtika by 1.2% during the 3rd quarter. FMR LLC now owns 1,339,801 shares of the company’s stock valued at $10,611,000 after purchasing an additional 15,471 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Playtika by 12.9% in the 3rd quarter. State Street Corp now owns 1,317,709 shares of the company’s stock worth $10,564,000 after purchasing an additional 150,878 shares in the last quarter. 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.