Playtika Holding Corp. (NASDAQ:PLTK) Receives Average Recommendation of “Hold” from Analysts

Shares of Playtika Holding Corp. (NASDAQ:PLTK) have been given an average recommendation of “Hold” by the six analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $3.75.

Several research analysts recently commented on the company. TD Cowen reissued a “buy” rating on shares of Playtika in a research note on Tuesday, June 9th. The Goldman Sachs Group set a $3.75 price objective on Playtika in a research note on Friday, August 7th. Roth Capital lowered their price objective on Playtika from $3.50 to $2.75 and set a “neutral” rating for the company in a research report on Monday, August 31st. Weiss Ratings restated a “sell (d)” rating on shares of Playtika in a research note on Wednesday, August 26th. Finally, Morgan Stanley set a $4.25 price target on shares of Playtika in a research note on Monday, August 10th.

Playtika Stock Up 1.4%

Shares of PLTK stock opened at $2.17 on Friday. The firm has a 50 day moving average of $2.64 and a two-hundred day moving average of $3.16. The stock has a market capitalization of $827.68 million, a PE ratio of -2.97 and a beta of 1.07. Playtika has a 52 week low of $2.07 and a 52 week high of $4.42.

Hedge Funds Weigh In On Playtika

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Playtika in the second quarter valued at $22,230,000. Man Group plc purchased a new position in shares of Playtika in the 2nd quarter valued at about $2,554,000. Tidal Investments LLC raised its position in shares of Playtika by 153.0% during the 2nd quarter. Tidal Investments LLC now owns 353,984 shares of the company’s stock worth $1,317,000 after acquiring an additional 214,093 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Playtika during the 2nd quarter worth about $946,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Playtika by 62.7% during the second quarter. Public Employees Retirement System of Ohio now owns 165,394 shares of the company’s stock worth $615,000 after purchasing an additional 63,717 shares during the last quarter. Institutional investors and hedge funds own 11.94% of the company’s stock.

About Playtika

Playtika Holding Corp. is a digital entertainment company that develops, publishes and operates free-to-play mobile and online games. Its titles are designed for smartphones, tablets and web platforms and generate revenue primarily through in-game purchases and advertising.

The company’s portfolio includes social casino games such as Slotomania, Caesars Slots, House of Fun and Bingo Blitz, as well as casual and social games including June’s Journey and Board Kings. Playtika operates and supports its games through live services, which include regular content updates, events and features intended to maintain player engagement.

Founded in 2010, Playtika has expanded through internal development and acquisitions of game studios and intellectual property.