Playtika (NASDAQ:PLTK) Reaches New 1-Year Low – What’s Next?

Playtika Holding Corp. (NASDAQ:PLTK) reached a new 52-week low during trading on Wednesday. The company traded as low as $2.04 and last traded at $2.04, with a volume of 1,025 shares changing hands. The stock had previously closed at $2.08.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley set a $4.25 price target on shares of Playtika in a research note on Monday, August 10th. Roth Capital dropped their price objective on Playtika from $3.50 to $2.75 and set a “neutral” rating on the stock in a report on Monday, August 31st. Citigroup dropped their price objective on Playtika from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Wall Street Zen cut Playtika from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.67.

Playtika Stock Down 1.2%

The company has a market cap of $783.82 million, a price-to-earnings ratio of -2.82 and a beta of 1.07. The company has a fifty day simple moving average of $2.26 and a two-hundred day simple moving average of $3.10.

Institutional Investors Weigh In On Playtika

A number of large investors have recently added to or reduced their stakes in PLTK. SummerHaven Investment Management LLC acquired a new position in Playtika during the third quarter worth about $217,000. Williams & Novak Wealth Management LLC increased its stake in shares of Playtika by 12.0% during the 3rd quarter. Williams & Novak Wealth Management LLC now owns 110,035 shares of the company’s stock worth $235,000 after purchasing an additional 11,830 shares in the last quarter. Tidal Investments LLC increased its stake 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 purchasing an additional 214,093 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Playtika during the 2nd quarter worth approximately $78,000. Finally, AXQ Capital LP acquired a new position in shares of Playtika during the 2nd quarter worth approximately $70,000. 11.94% of the stock is owned by institutional investors and hedge funds.

Playtika Company Profile

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and social games. Its business focuses on casual and social gaming experiences that generate revenue through in-game purchases, advertising, and other virtual goods.

The company’s portfolio has included titles such as Slotomania, Caesars Slots, Bingo Blitz, House of Fun, June’s Journey, Board Kings, and World Series of Poker. Playtika uses data analytics, live-operations capabilities, and ongoing content updates to manage player engagement and extend the life of its games.

Founded in 2010, Playtika is headquartered in Israel and serves players internationally through mobile applications and online platforms.