Wall Street Zen Downgrades Playtika (NASDAQ:PLTK) to Hold

Playtika (NASDAQ:PLTK) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

PLTK has been the topic of several other reports. Loop Capital set a $3.75 price objective on Playtika in a research report on Monday, November 3rd. Wedbush reaffirmed an “outperform” rating and set a $7.00 price target on shares of Playtika in a report on Friday, October 31st. Weiss Ratings cut Playtika from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. Finally, UBS Group decreased their target price on Playtika from $5.50 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Playtika presently has a consensus rating of “Hold” and an average price target of $6.00.

Playtika Price Performance

PLTK opened at $3.98 on Friday. The firm has a market cap of $1.50 billion, a PE ratio of 16.58, a P/E/G ratio of 2.29 and a beta of 0.84. The stock has a 50-day moving average price of $4.03 and a 200-day moving average price of $4.04. Playtika has a 1 year low of $3.31 and a 1 year high of $7.58.

Playtika (NASDAQ:PLTK) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $674.60 million during the quarter, compared to analyst estimates of $669.60 million. Playtika had a net margin of 3.16% and a negative return on equity of 114.44%. Playtika’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. As a group, sell-side analysts anticipate that Playtika will post 0.65 EPS for the current year.

Hedge Funds Weigh In On Playtika

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its stake in shares of Playtika by 366.2% in the first quarter. Acadian Asset Management LLC now owns 1,547,829 shares of the company’s stock worth $7,989,000 after purchasing an additional 1,215,843 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in shares of Playtika by 98.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 256,015 shares of the company’s stock valued at $1,211,000 after buying an additional 126,990 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Playtika in the 2nd quarter worth $296,000. Assenagon Asset Management S.A. bought a new position in Playtika in the 3rd quarter worth $1,509,000. Finally, Geode Capital Management LLC increased its stake in Playtika by 30.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,816,734 shares of the company’s stock worth $8,594,000 after buying an additional 420,100 shares in the last quarter. Institutional investors own 11.94% of the company’s stock.

About Playtika

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.