Playtika (NASDAQ:PLTK) Shares Down 5.4% – Here’s What Happened

Playtika Holding Corp. (NASDAQ:PLTK) shares were down 5.4% on Monday . The company traded as low as $3.83 and last traded at $3.7950. Approximately 1,686,313 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 1,605,122 shares. The stock had previously closed at $4.01.

Analyst Ratings Changes

Several equities research analysts recently commented on PLTK shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Playtika in a research report on Friday, May 29th. TD Cowen reissued a “buy” rating on shares of Playtika in a research note on Tuesday, June 9th. Finally, Roth Capital upped their target price on shares of Playtika from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.00.

Playtika Stock Down 5.5%

The stock has a fifty day moving average of $3.60 and a two-hundred day moving average of $3.42. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -4.95 and a beta of 1.09.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). Playtika had a negative return on equity of 67.46% and a negative net margin of 10.54%.The business had revenue of $744.70 million for the quarter, compared to analysts’ expectations of $694.68 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Playtika Holding Corp. will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Playtika

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in Playtika by 65.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock worth $29,630,000 after acquiring an additional 2,511,228 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Playtika by 20.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock valued at $15,455,000 after acquiring an additional 679,564 shares during the period. The Manufacturers Life Insurance Company grew its position in Playtika by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock worth $17,541,000 after purchasing an additional 595,494 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Playtika by 15.7% in the third quarter. Vanguard Group Inc. now owns 3,191,732 shares of the company’s stock valued at $12,416,000 after purchasing an additional 432,060 shares during the period. Finally, Geode Capital Management LLC raised its stake in Playtika by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,765,918 shares of the company’s stock valued at $6,976,000 after acquiring an additional 33,306 shares in the last quarter. Institutional investors and hedge funds 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.