Jefferies Financial Group Reiterates Hold Rating for Playtech (LON:PTEC)

Playtech (LON:PTEC)‘s stock had its “hold” rating reissued by Jefferies Financial Group in a research report issued to clients and investors on Thursday,London Stock Exchange reports. They currently have a GBX 405 price objective on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 7.26% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup raised their price target on shares of Playtech from GBX 355 to GBX 400 and gave the stock a “buy” rating in a research report on Monday, March 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Playtech from GBX 443 to GBX 460 and gave the company a “buy” rating in a report on Thursday, May 21st.

Playtech Trading Up 17.6%

Playtech stock opened at GBX 377.59 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 24.36. Playtech has a 52 week low of GBX 210 and a 52 week high of GBX 447. The company has a market capitalization of £1.05 billion, a price-to-earnings ratio of 0.78, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. The stock has a 50-day moving average price of GBX 338.95 and a 200 day moving average price of GBX 333.16.

Playtech declared that its board has initiated a stock repurchase plan on Friday, March 27th that permits the company to repurchase 5,660,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Chris McGinnis acquired 27,080 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of GBX 372 per share, with a total value of £100,737.60. Also, insider Mor Weizer acquired 71,321 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of GBX 375 per share, with a total value of £267,453.75. Corporate insiders own 0.82% of the company’s stock.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.