Macquarie Has Lowered Expectations for Playtika (NASDAQ:PLTK) Stock Price

Playtika (NASDAQ:PLTK) had its price target trimmed by Macquarie from $7.00 to $6.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on PLTK. Roth Mkm increased their price objective on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Robert W. Baird restated a “neutral” rating and set a $6.00 target price (down previously from $9.00) on shares of Playtika in a research report on Friday. Finally, Wedbush restated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.21.

Playtika Stock Down 7.4 %

PLTK stock opened at $5.28 on Friday. The firm has a market cap of $1.97 billion, a PE ratio of 9.10, a P/E/G ratio of 1.69 and a beta of 0.92. The business has a 50 day moving average of $7.02 and a 200-day moving average of $7.54. Playtika has a 12-month low of $5.22 and a 12-month high of $9.15.

Playtika Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a $0.10 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.58%. Playtika’s dividend payout ratio (DPR) is presently 68.97%.

Insider Buying and Selling

In related news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.54, for a total value of $572,459.42. Following the sale, the insider now owns 200,554,660 shares in the company, valued at approximately $1,512,182,136.40. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 491,921 shares of company stock worth $4,004,775. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Playtika

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Playtika by 12.9% during the third quarter. State Street Corp now owns 1,317,709 shares of the company’s stock valued at $10,564,000 after purchasing an additional 150,878 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Playtika by 23,814.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after purchasing an additional 663,700 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Playtika by 14.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,137,595 shares of the company’s stock valued at $9,010,000 after purchasing an additional 142,112 shares in the last quarter. JPMorgan Chase & Co. raised its position in Playtika by 102.7% during the third quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company’s stock valued at $635,000 after purchasing an additional 40,604 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Playtika by 76.2% during the fourth quarter. SG Americas Securities LLC now owns 175,008 shares of the company’s stock valued at $1,215,000 after purchasing an additional 75,702 shares in the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

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.