Playtika (NASDAQ:PLTK) Shares Gap Up – Here’s Why

Shares of Playtika Holding Corp. (NASDAQ:PLTK) gapped up prior to trading on Wednesday . The stock had previously closed at $4.40, but opened at $4.98. Playtika shares last traded at $5.39, with a volume of 2,529,345 shares trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on PLTK shares. Baird R W lowered shares of Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Wedbush restated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Wednesday, February 26th. Robert W. Baird reissued a “neutral” rating and set a $6.00 price target (down previously from $9.00) on shares of Playtika in a report on Friday, February 28th. Macquarie reduced their target price on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Bank of America raised Playtika from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $6.00 to $6.50 in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.09.

Playtika Stock Down 1.9 %

The stock has a market cap of $1.95 billion, a P/E ratio of 8.97, a PEG ratio of 1.69 and a beta of 0.98. The firm’s fifty day moving average price is $6.22 and its 200-day moving average price is $7.20.

Playtika Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Playtika by 5.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,416 shares of the company’s stock valued at $392,000 after buying an additional 2,886 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Playtika by 314.3% during the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock worth $344,000 after acquiring an additional 37,625 shares in the last quarter. Neo Ivy Capital Management increased its stake in Playtika by 756.9% during the 4th quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock valued at $423,000 after purchasing an additional 53,849 shares in the last quarter. CSS LLC IL boosted its holdings in Playtika by 78.9% in the fourth quarter. CSS LLC IL now owns 50,233 shares of the company’s stock valued at $349,000 after purchasing an additional 22,161 shares during the last quarter. Finally, Woodline Partners LP boosted its position in Playtika by 41.4% during the fourth quarter. Woodline Partners LP now owns 449,877 shares of the company’s stock worth $3,122,000 after purchasing an additional 131,669 shares in the last quarter. Institutional investors 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.