Chris McGinnis Buys 27,080 Shares of Playtech (LON:PTEC) Stock

Playtech plc (LON:PTEC) insider Chris McGinnis acquired 27,080 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of GBX 372 per share, for a total transaction of £100,737.60.

Playtech Stock Up 0.5%

PTEC stock traded up GBX 1.80 during trading on Wednesday, reaching GBX 365. The stock had a trading volume of 71,807,813 shares, compared to its average volume of 12,699,473. The firm has a fifty day moving average price of GBX 367.84 and a 200 day moving average price of GBX 315.52. The company has a market capitalization of £1.01 billion, a P/E ratio of 0.75, a PEG ratio of 1.28 and a beta of 0.65. Playtech plc has a 1-year low of GBX 210 and a 1-year high of GBX 447. The company has a current ratio of 1.42, a quick ratio of 1.09 and a debt-to-equity ratio of 24.36.

Playtech announced that its Board of Directors has authorized a share repurchase plan on Friday, March 27th that allows the company to buyback 5,660,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PTEC. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 405 price objective on shares of Playtech in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday, January 23rd. Finally, Citigroup upped their price target on shares of Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a research note on Monday, March 30th.

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.