Neo Ivy Capital Management Makes New Investment in Playtika Holding Corp. (NASDAQ:PLTK)

Neo Ivy Capital Management acquired a new position in shares of Playtika Holding Corp. (NASDAQ:PLTK) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,114 shares of the company’s stock, valued at approximately $56,000.

Other hedge funds have also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its stake in Playtika by 16.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 22,695 shares of the company’s stock valued at $179,000 after purchasing an additional 3,265 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Playtika in the 2nd quarter worth approximately $744,000. Pallas Capital Advisors LLC purchased a new position in Playtika during the 2nd quarter worth approximately $266,000. Bank of New York Mellon Corp lifted its stake in Playtika by 40.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 128,725 shares of the company’s stock valued at $1,013,000 after acquiring an additional 36,883 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Playtika by 16.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 37,726 shares of the company’s stock valued at $297,000 after acquiring an additional 5,352 shares during the period. 11.94% of the stock is owned by institutional investors and hedge funds.

Playtika Stock Performance

NASDAQ:PLTK opened at $8.22 on Friday. The company has a fifty day moving average of $8.09 and a two-hundred day moving average of $7.87. Playtika Holding Corp. has a fifty-two week low of $6.25 and a fifty-two week high of $9.23. The stock has a market capitalization of $3.06 billion, a PE ratio of 14.17, a P/E/G ratio of 2.13 and a beta of 0.88.

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

Playtika Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Friday, December 20th. Playtika’s payout ratio is 68.97%.

Analysts Set New Price Targets

PLTK has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and set a $11.50 target price on shares of Playtika in a report on Thursday, September 19th. Roth Mkm lifted their price objective on Playtika from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Macquarie restated a “neutral” rating and issued a $7.00 target price on shares of Playtika in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.00.

Insider Activity

In related news, major shareholder Holding Uk Ltd Playtika II sold 73,321 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $8.55, for a total value of $626,894.55. Following the completion of the sale, the insider now owns 203,065,335 shares of the company’s stock, valued at approximately $1,736,208,614.25. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 386,463 shares of company stock worth $3,285,905 over the last three months. Insiders own 4.80% 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.