Quest Partners LLC Grows Stake in Playtika Holding Corp. (NASDAQ:PLTK)

Quest Partners LLC lifted its stake in Playtika Holding Corp. (NASDAQ:PLTK) by 705.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 161,249 shares of the company’s stock after acquiring an additional 141,231 shares during the quarter. Quest Partners LLC’s holdings in Playtika were worth $1,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Playtika in the second quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new position in shares of Playtika in the second quarter worth about $36,000. Acadian Asset Management LLC purchased a new position in Playtika in the second quarter valued at about $43,000. Headlands Technologies LLC grew its stake in Playtika by 648.8% during the 2nd quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock valued at $53,000 after purchasing an additional 5,794 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Playtika during the 3rd quarter worth approximately $62,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PLTK. Roth Mkm increased their target price on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley increased their price objective on shares of Playtika from $7.40 to $8.25 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Macquarie reissued a “neutral” rating and issued a $7.00 target price on shares of Playtika in a research report on Friday, November 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.50 price target on shares of Playtika in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.18.

Playtika Price Performance

Shares of PLTK opened at $8.42 on Wednesday. Playtika Holding Corp. has a 12 month low of $6.25 and a 12 month high of $9.23. The stock has a fifty day moving average price of $7.86 and a 200 day moving average price of $7.88. The company has a market cap of $3.14 billion, a P/E ratio of 14.52, a PEG ratio of 2.18 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Playtika had a net margin of 8.52% and a negative return on equity of 144.73%. The firm had revenue of $620.80 million during the quarter, compared to analyst estimates of $622.46 million. During the same quarter in the previous year, the business posted $0.19 EPS. Playtika’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.40 annualized dividend and a yield of 4.75%. Playtika’s payout ratio is 68.97%.

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.