Playtech (LON:PTEC) Trading Up 9.7% – Here’s Why

Playtech plc (LON:PTEC)’s stock price rose 9.7% during mid-day trading on Tuesday . The company traded as high as GBX 300 and last traded at GBX 299.50. Approximately 1,027,069 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 809,344 shares. The stock had previously closed at GBX 273.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PTEC shares. Jefferies Financial Group lowered Playtech to a “hold” rating and decreased their price objective for the company from GBX 405 to GBX 240 in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a report on Friday.

Playtech Trading Up 9.7%

The stock has a market cap of £846.00 million, a price-to-earnings ratio of 0.52, a PEG ratio of 1.28 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The company’s fifty day moving average is GBX 274.42 and its two-hundred day moving average is GBX 329.72.

Playtech Company Profile

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.