Playtika (NASDAQ:PLTK) Trading Up 7% – Here’s What Happened

Playtika Holding Corp. (NASDAQ:PLTK)’s share price rose 7% during mid-day trading on Monday . The company traded as high as $3.51 and last traded at $3.37. Approximately 2,965,505 shares traded hands during mid-day trading, an increase of 111% from the average daily volume of 1,407,508 shares. The stock had previously closed at $3.15.

Wall Street Analyst Weigh In

PLTK has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a research report on Friday, May 29th. Wedbush cut shares of Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 target price for the company. in a research report on Monday, March 2nd. TD Cowen reissued a “buy” rating on shares of Playtika in a research report on Tuesday, June 9th. Citigroup reduced their target price on shares of Playtika from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, The Goldman Sachs Group reduced their target price on shares of Playtika from $4.75 to $4.25 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.00.

Playtika Price Performance

The company’s 50-day moving average is $3.41 and its two-hundred day moving average is $3.48. The firm has a market cap of $1.28 billion, a P/E ratio of -4.38 and a beta of 1.08.

Playtika (NASDAQ:PLTK) last posted its earnings results on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). The company had revenue of $744.70 million during the quarter, compared to the consensus estimate of $694.69 million. Playtika had a negative return on equity of 67.46% and a negative net margin of 10.54%.The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.08 EPS. On average, analysts expect that Playtika Holding Corp. will post 0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Denali Advisors LLC raised its holdings in Playtika by 44.0% in the 4th quarter. Denali Advisors LLC now owns 1,112,314 shares of the company’s stock valued at $4,394,000 after buying an additional 340,100 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Playtika in the 3rd quarter valued at approximately $47,000. CWM LLC raised its holdings in Playtika by 57.5% in the 4th quarter. CWM LLC now owns 197,153 shares of the company’s stock valued at $779,000 after buying an additional 72,016 shares during the last quarter. Earned Wealth Advisors LLC bought a new position in Playtika in the 4th quarter valued at approximately $46,000. Finally, Signaturefd LLC raised its holdings in Playtika by 129.8% in the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock valued at $36,000 after buying an additional 5,147 shares during the last quarter. Institutional investors own 11.94% of the company’s stock.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.