Playtech (LON:PTEC) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Playtech plc (LON:PTEC)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 320.50 and traded as high as GBX 351. Playtech shares last traded at GBX 348.05, with a volume of 858,152 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on PTEC shares. Citigroup raised their price target on Playtech from GBX 355 to GBX 400 and gave the company a “buy” rating in a report on Monday, March 30th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 405 price target on shares of Playtech in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Playtech from GBX 443 to GBX 460 and gave the company a “buy” rating in a report on Thursday, May 21st.

Playtech Stock Down 0.1%

The firm has a 50 day simple moving average of GBX 367.17 and a two-hundred day simple moving average of GBX 320.72. The company has a debt-to-equity ratio of 24.36, a current ratio of 1.42 and a quick ratio of 1.09. The stock has a market cap of £974.69 million, a price-to-earnings ratio of 0.72, a price-to-earnings-growth ratio of 1.28 and a beta of 0.65.

Playtech announced that its board has approved a share buyback program on Friday, March 27th that allows the company to buyback 5,660,000 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Playtech

In other Playtech news, insider Mor Weizer purchased 71,321 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of GBX 375 per share, with a total value of £267,453.75. Also, insider Chris McGinnis purchased 27,080 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of GBX 372 per share, for a total transaction of £100,737.60. Company insiders own 0.71% of the company’s stock.

Playtech Company Profile

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.