Playtika (NASDAQ:PLTK) Reaches New 52-Week Low – Should You Sell?

Playtika Holding Corp. (NASDAQ:PLTK)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.65 and last traded at $2.6550, with a volume of 42743 shares. The stock had previously closed at $2.74.

Analyst Upgrades and Downgrades

Several research firms have commented on PLTK. Weiss Ratings cut shares of Playtika from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. The Goldman Sachs Group decreased their price objective on shares of Playtika from $4.75 to $4.25 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Wedbush downgraded shares of Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 target price for the company. in a research note on Monday, March 2nd. Citigroup dropped their target price on Playtika from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Wall Street Zen downgraded Playtika from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.38.

Playtika Price Performance

The company’s 50 day simple moving average is $3.16 and its 200 day simple moving average is $3.60. The company has a market capitalization of $1.01 billion, a PE ratio of -4.95 and a beta of 0.88.

Playtika (NASDAQ:PLTK) last issued its earnings results on Thursday, February 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.96). The company had revenue of $678.80 million during the quarter, compared to analyst estimates of $660.32 million. Playtika had a negative net margin of 7.49% and a negative return on equity of 114.29%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, equities analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current year.

Hedge Funds Weigh In On Playtika

Several hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Playtika during the second quarter worth about $27,000. Kestra Advisory Services LLC acquired a new stake in shares of Playtika in the 4th quarter valued at about $32,000. Signaturefd LLC grew its stake in Playtika by 129.8% during the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock worth $36,000 after buying an additional 5,147 shares during the last quarter. Comerica Bank boosted its holdings in shares of Playtika by 278.9% in the fourth quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after acquiring an additional 6,704 shares during the period. Finally, Jackson Thornton Wealth Management LLC purchased a new stake in Playtika in the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Company Profile

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.