Playtech (LON:PTEC) Trading 9.2% Higher – Here’s What Happened

Playtech plc (LON:PTEC)’s share price rose 9.2% during mid-day trading on Tuesday . The company traded as high as GBX 308 and last traded at GBX 298. Approximately 2,091,662 shares were traded during mid-day trading, an increase of 141% from the average daily volume of 868,488 shares. The stock had previously closed at GBX 273.

Key Headlines Impacting Playtech

Here are the key news stories impacting Playtech this week:

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Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PTEC shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group lowered Playtech to a “hold” rating and lowered their price target for the company from GBX 405 to GBX 240 in a research report on Tuesday, November 25th.

Playtech Trading Up 9.2%

The firm’s 50 day moving average price is GBX 275.71 and its 200-day moving average price is GBX 329.17. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The stock has a market cap of £841.76 million, a P/E ratio of 0.51, a P/E/G ratio of 1.28 and a beta of 1.26.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.