Playtika (NASDAQ:PLTK) Upgraded at Bank of America

Bank of America upgraded shares of Playtika (NASDAQ:PLTK) from an underperform rating to a buy rating in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have $6.50 price target on the stock, up from their prior price target of $6.00.

Several other analysts also recently weighed in on PLTK. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Citigroup dropped their target price on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Macquarie lowered their price objective on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Robert W. Baird reissued a “neutral” rating and issued a $6.00 price target (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Finally, Wedbush restated an “outperform” rating and set a $11.50 price target on shares of Playtika in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Playtika presently has an average rating of “Hold” and a consensus price target of $8.09.

Playtika Stock Performance

PLTK opened at $5.20 on Wednesday. The business’s 50 day moving average price is $6.18 and its 200 day moving average price is $7.19. The stock has a market capitalization of $1.95 billion, a PE ratio of 8.97, a P/E/G ratio of 1.69 and a beta of 0.98. Playtika has a one year low of $3.97 and a one year high of $9.16.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s dividend payout ratio is currently 90.91%.

Institutional Investors Weigh In On Playtika

Several hedge funds have recently made changes to their positions in PLTK. Sterling Capital Management LLC lifted 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 acquiring an additional 1,534 shares during the period. 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 lifted its stake in shares of 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 acquiring an additional 3,496 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Playtika in the third quarter valued at about $56,000. Finally, R Squared Ltd acquired a new position in shares of Playtika during the fourth quarter worth about $57,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Company Profile

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.