Playtika (NASDAQ:PLTK) Trading Up 7.7% – Time to Buy?

Playtika Holding Corp. (NASDAQ:PLTK)’s stock price was up 7.7% during mid-day trading on Tuesday . The company traded as high as $3.76 and last traded at $3.8350. Approximately 928,718 shares were traded during trading, a decline of 43% from the average daily volume of 1,631,749 shares. The stock had previously closed at $3.56.

Analyst Ratings Changes

Several research analysts have recently commented on PLTK shares. Wedbush downgraded Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a report on Monday, March 2nd. TD Cowen restated a “buy” rating on shares of Playtika in a research report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Playtika in a research note on Friday, May 29th. Roth Mkm lifted their price target on Playtika from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group lowered their price objective on Playtika from $4.75 to $4.25 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Playtika Price Performance

The stock has a market capitalization of $1.46 billion, a P/E ratio of -5.00 and a beta of 1.08. The firm’s 50 day moving average price is $3.48 and its 200 day moving average price is $3.45.

Playtika (NASDAQ:PLTK) last posted its earnings results on Thursday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.22). Playtika had a negative return on equity of 67.46% and a negative net margin of 10.54%.The firm had revenue of $744.70 million for the quarter, compared to analysts’ expectations of $694.68 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Playtika Holding Corp. will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On Playtika

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in Playtika by 65.7% in the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company’s stock worth $29,630,000 after acquiring an additional 2,511,228 shares during the period. Jane Street Group LLC raised its holdings in Playtika by 536.3% in the 1st quarter. Jane Street Group LLC now owns 1,354,552 shares of the company’s stock worth $7,003,000 after purchasing an additional 1,141,685 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Playtika by 20.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company’s stock worth $15,455,000 after purchasing an additional 679,564 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Playtika by 217.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 920,552 shares of the company’s stock worth $3,581,000 after purchasing an additional 630,884 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Playtika by 19.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company’s stock valued at $17,541,000 after purchasing an additional 595,494 shares in the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

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.