Playtika (NASDAQ:PLTK) Shares Down 3.4% – Here’s Why

Shares of Playtika Holding Corp. (NASDAQ:PLTK) dropped 3.4% during mid-day trading on Friday . The company traded as low as $7.93 and last traded at $7.94. Approximately 58,239 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 843,636 shares. The stock had previously closed at $8.22.

Analyst Upgrades and Downgrades

PLTK has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $11.50 target price on shares of Playtika in a research report on Thursday, September 19th. Roth Mkm increased their target price on shares of Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Macquarie reiterated a “neutral” rating and issued a $7.00 target price on shares of Playtika in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

Playtika Stock Performance

The company’s 50 day moving average price is $8.09 and its 200 day moving average price is $7.86. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88.

Playtika (NASDAQ:PLTK) last posted its earnings results on Thursday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Playtika had a net margin of 8.52% and a negative return on equity of 144.73%. The firm had revenue of $620.80 million during the quarter, compared to analyst estimates of $622.46 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.40 dividend on an annualized basis and a yield of 5.24%. Playtika’s payout ratio is presently 68.97%.

Insider Activity at Playtika

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 97,266 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.69, for a total value of $845,241.54. Following the sale, the insider now directly owns 202,968,069 shares in the company, valued at $1,763,792,519.61. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 386,463 shares of company stock worth $3,285,905. 4.80% of the stock is owned by insiders.

Institutional Trading of Playtika

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Playtika in the 2nd quarter worth $31,000. Acadian Asset Management LLC acquired a new stake in Playtika in the 2nd quarter worth $43,000. Headlands Technologies LLC grew its position in Playtika by 648.8% in the 2nd quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock worth $53,000 after purchasing an additional 5,794 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Playtika in the 3rd quarter worth $56,000. Finally, KBC Group NV grew its position in Playtika by 19.3% in the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after purchasing an additional 1,266 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.