Macquarie Cuts Playtika (NASDAQ:PLTK) Price Target to $6.00

Playtika (NASDAQ:PLTK) had its price target lowered by analysts at Macquarie from $7.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Macquarie’s target price would suggest a potential upside of 13.64% from the stock’s current price.

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

Playtika Stock Performance

Playtika stock traded down $0.42 during midday trading on Friday, hitting $5.28. 2,758,423 shares of the company’s stock were exchanged, compared to its average volume of 903,657. Playtika has a 12 month low of $5.22 and a 12 month high of $9.15. The firm has a 50-day moving average of $7.06 and a two-hundred day moving average of $7.55. The company 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.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 291,508 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $8.17, for a total value of $2,381,620.36. Following the completion of the transaction, the insider now directly owns 201,000,143 shares of the company’s stock, valued at $1,642,171,168.31. This trade represents a 0.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 491,921 shares of company stock valued at $4,004,775 in the last three months. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Playtika

Institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC raised its position in Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after buying an additional 1,534 shares during the last quarter. GAMMA Investing LLC raised its position in Playtika by 146.0% during the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after buying an additional 2,910 shares during the last quarter. Versant Capital Management Inc raised its position in Playtika by 148.7% during the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock worth $41,000 after buying an additional 3,496 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Playtika during the 3rd quarter worth approximately $56,000. Finally, KBC Group NV raised its position in Playtika by 19.3% during the 3rd quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after buying an additional 1,266 shares during the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

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.