Playtika’s (PLTK) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Playtika (NASDAQ:PLTK) in a research note published on Thursday, Benzinga reports. Wedbush currently has a $11.50 price objective on the stock.

PLTK has been the subject of several other research reports. UBS Group began coverage on shares of Playtika in a report on Monday, June 24th. They set a neutral rating and a $8.50 price target for the company. Morgan Stanley raised their price target on shares of Playtika from $7.40 to $8.25 and gave the stock an equal weight rating in a report on Tuesday, July 23rd. Macquarie lowered shares of Playtika from an outperform rating to a neutral rating and set a $9.00 price target for the company. in a report on Thursday, June 13th. Finally, Roth Mkm lowered their price target on shares of Playtika from $9.00 to $8.00 and set a neutral rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $9.29.

Playtika Price Performance

Shares of NASDAQ PLTK opened at $7.82 on Thursday. The company has a 50 day simple moving average of $7.46 and a 200 day simple moving average of $7.64. The firm has a market cap of $2.91 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. Playtika has a 1 year low of $6.25 and a 1 year high of $10.28.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The business had revenue of $627.00 million during the quarter, compared to analyst estimates of $640.27 million. During the same quarter last year, the business earned $0.21 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Playtika will post 0.73 earnings per share for the current fiscal year.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Friday, September 20th. Playtika’s payout ratio is currently 72.73%.

Institutional Trading of Playtika

Several hedge funds have recently bought and sold shares of PLTK. Robeco Institutional Asset Management B.V. grew its position in Playtika by 5.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 107,146 shares of the company’s stock valued at $934,000 after purchasing an additional 5,544 shares during the period. Quest Partners LLC acquired a new stake in Playtika in the 4th quarter valued at $353,000. Aigen Investment Management LP acquired a new stake in Playtika in the 4th quarter valued at $98,000. Commerce Bank acquired a new stake in Playtika in the 4th quarter valued at $88,000. Finally, Alaska Permanent Fund Corp boosted its holdings in Playtika by 362.8% during the 1st quarter. Alaska Permanent Fund Corp now owns 225,673 shares of the company’s stock worth $1,591,000 after acquiring an additional 176,913 shares during the last quarter. Institutional investors and hedge funds 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.