Playtika Holding Corp. (NASDAQ:PLTK) Sees Significant Increase in Short Interest

Playtika Holding Corp. (NASDAQ:PLTK) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 9,763,358 shares, an increase of 18.2% from the February 12th total of 8,261,730 shares. Based on an average daily volume of 2,040,172 shares, the short-interest ratio is presently 4.8 days. Approximately 2.7% of the company’s stock are short sold. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 2,040,172 shares, the short-interest ratio is presently 4.8 days.

Institutional Trading of Playtika

Institutional investors and hedge funds have recently modified their holdings of the business. CWA Asset Management Group LLC acquired a new position in shares of Playtika in the 3rd quarter valued at about $1,716,000. Assenagon Asset Management S.A. acquired a new stake in Playtika during the third quarter worth about $1,509,000. Los Angeles Capital Management LLC bought a new position in Playtika in the second quarter worth about $296,000. Denali Advisors LLC bought a new position in Playtika in the third quarter worth about $3,004,000. Finally, Geode Capital Management LLC boosted its stake in Playtika by 30.1% in the second quarter. Geode Capital Management LLC now owns 1,816,734 shares of the company’s stock valued at $8,594,000 after acquiring an additional 420,100 shares during the period. 11.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLTK shares. Weiss Ratings lowered shares of Playtika from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Citigroup decreased their price objective on shares of Playtika from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Friday, February 20th. Wall Street Zen downgraded Playtika from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Wedbush lowered Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 target price on the stock. in a research report on Monday, March 2nd. Finally, The Goldman Sachs Group cut their price target on Playtika from $4.75 to $4.25 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.68.

Playtika Trading Up 2.0%

NASDAQ PLTK traded up $0.06 on Tuesday, hitting $2.87. 236,888 shares of the stock traded hands, compared to its average volume of 1,904,748. The stock has a 50-day moving average of $3.35 and a 200 day moving average of $3.68. Playtika has a twelve month low of $2.67 and a twelve month high of $5.59. The company has a market capitalization of $1.09 billion, a P/E ratio of -5.31 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.96). Playtika had a negative net margin of 7.49% and a negative return on equity of 114.29%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. As a group, equities research analysts expect that Playtika will post 0.65 earnings per share for the current year.

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.