Wall Street Zen Upgrades Playtika (NASDAQ:PLTK) to Buy

Playtika (NASDAQ:PLTK) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also weighed in on PLTK. Weiss Ratings raised shares of Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Wedbush reissued an “outperform” rating and set a $7.00 target price on shares of Playtika in a report on Friday, October 31st. UBS Group lowered their price target on Playtika from $5.50 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Finally, Loop Capital set a $3.75 price target on Playtika in a research report on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.00.

Playtika Stock Performance

PLTK stock opened at $4.24 on Friday. Playtika has a one year low of $3.31 and a one year high of $8.74. The firm’s fifty day moving average is $3.84 and its 200 day moving average is $4.13. The firm has a market cap of $1.59 billion, a PE ratio of 17.67, a P/E/G ratio of 3.99 and a beta of 0.84.

Playtika (NASDAQ:PLTK) last posted its earnings results on Thursday, November 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $674.60 million for the quarter, compared to analysts’ expectations of $669.60 million. Playtika had a negative return on equity of 114.44% and a net margin of 3.16%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. Research analysts predict that Playtika will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLTK. AQR Capital Management LLC lifted its stake in shares of Playtika by 65.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock valued at $29,630,000 after purchasing an additional 2,511,228 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Playtika by 20.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock worth $15,455,000 after purchasing an additional 679,564 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Playtika by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock valued at $17,541,000 after buying an additional 595,494 shares during the period. Vanguard Group Inc. lifted its position in Playtika by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,610,729 shares of the company’s stock valued at $18,667,000 after buying an additional 137,482 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Playtika by 6.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,113,062 shares of the company’s stock valued at $16,095,000 after buying an additional 186,208 shares during the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

About Playtika

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.