Playtech (LON:PTEC) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Playtech plc (LON:PTEC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 346.55 and traded as high as GBX 384.60. Playtech shares last traded at GBX 378.60, with a volume of 12,891,093 shares.

Wall Street Analyst Weigh In

PTEC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Playtech from GBX 443 to GBX 460 and gave the company a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and set a GBX 405 target price on shares of Playtech in a research report on Thursday, July 9th. Finally, Citigroup raised shares of Playtech to a “buy” rating in a research note on Friday, July 10th.

Playtech Price Performance

The company has a current ratio of 1.42, a quick ratio of 1.09 and a debt-to-equity ratio of 24.36. The firm’s 50-day moving average price is GBX 348.26 and its 200-day moving average price is GBX 347.86. The stock has a market capitalization of £1.01 billion, a PE ratio of 0.75, a PEG ratio of 1.28 and a beta of 0.64.

Insider Activity at Playtech

In related news, insider Chris McGinnis bought 27,080 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of GBX 372 per share, with a total value of £100,737.60. Also, insider Mor Weizer purchased 71,321 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of GBX 375 per share, for a total transaction of £267,453.75. 0.82% of the stock is owned by company insiders.

About Playtech

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.