Playtika (NASDAQ:PLTK) Sets New 52-Week Low Following Weak Earnings

Playtika Holding Corp. (NASDAQ:PLTK)’s stock price reached a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $5.23 and last traded at $5.37, with a volume of 413233 shares. The stock had previously closed at $6.85.

The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.15). Playtika had a net margin of 8.52% and a negative return on equity of 144.73%.

Wall Street Analyst Weigh In

PLTK has been the subject of several research reports. Wedbush reiterated an “outperform” rating and issued a $11.50 target price on shares of Playtika in a report on Wednesday. Roth Mkm boosted their price target on Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Macquarie reissued a “neutral” rating and issued a $7.00 price target on shares of Playtika in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Playtika has a consensus rating of “Hold” and an average price target of $9.00.

Insider Transactions at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 124,490 shares of Playtika stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $8.44, for a total value of $1,050,695.60. Following the sale, the insider now owns 202,673,467 shares of the company’s stock, valued at approximately $1,710,564,061.48. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 491,921 shares of company stock worth $4,004,775 over the last quarter. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Playtika

A number of institutional investors and hedge funds have recently modified their holdings of PLTK. Sterling Capital Management LLC lifted its position in shares of Playtika by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after acquiring an additional 1,534 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Playtika by 146.0% in the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock valued at $34,000 after buying an additional 2,910 shares during the last quarter. Versant Capital Management Inc lifted its stake in Playtika by 148.7% in the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock worth $41,000 after purchasing an additional 3,496 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Playtika during the 3rd quarter worth approximately $56,000. Finally, R Squared Ltd purchased a new stake in shares of Playtika in the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Price Performance

The firm has a fifty day moving average of $7.08 and a 200 day moving average of $7.56. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 1.69 and a beta of 0.92.

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.