Playtika (NASDAQ:PLTK) Receives “Outperform” Rating from Wedbush

Playtika (NASDAQ:PLTK)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research report issued on Wednesday,Benzinga reports. They currently have a $11.50 target price on the stock. Wedbush’s price target would indicate a potential upside of 65.11% from the company’s previous close.

Several other research firms have also recently issued reports on PLTK. Macquarie reissued a “neutral” rating and issued a $7.00 target price on shares of Playtika in a research report on Friday, November 8th. Roth Mkm lifted their target price on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.00.

Playtika Stock Performance

NASDAQ PLTK traded up $0.14 during trading hours on Wednesday, reaching $6.97. The company’s stock had a trading volume of 184,855 shares, compared to its average volume of 742,560. The company’s 50-day moving average is $7.09 and its two-hundred day moving average is $7.57. Playtika has a fifty-two week low of $6.25 and a fifty-two week high of $9.15. The stock has a market cap of $2.60 billion, a PE ratio of 12.01, a PEG ratio of 1.69 and a beta of 0.92.

Insider Buying and Selling

In related news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.54, for a total transaction of $572,459.42. Following the completion of the sale, the insider now directly owns 200,554,660 shares of the company’s stock, valued at approximately $1,512,182,136.40. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 491,921 shares of company stock valued at $4,004,775. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Playtika

Several large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Playtika by 61.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock valued at $20,290,000 after purchasing an additional 1,109,594 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Playtika by 8.8% in the third quarter. Pacer Advisors Inc. now owns 10,249,684 shares of the company’s stock valued at $81,177,000 after acquiring an additional 829,372 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Playtika by 23,814.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after acquiring an additional 663,700 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Playtika during the 4th quarter valued at $2,402,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Playtika by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock worth $21,267,000 after acquiring an additional 326,890 shares in 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.