Playtika (NASDAQ:PLTK) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Playtika (NASDAQ:PLTK) in a research note published on Wednesday,Benzinga reports. They currently have a $11.50 price target on the stock.

A number of other research firms have also weighed in on PLTK. Roth Mkm boosted their price objective on Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Macquarie reissued a “neutral” rating and set a $7.00 price objective on shares of Playtika in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.

Playtika Stock Performance

NASDAQ PLTK opened at $6.85 on Wednesday. The stock’s fifty day moving average is $7.08 and its two-hundred day moving average is $7.56. The firm has a market capitalization of $2.55 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. Playtika has a fifty-two week low of $6.25 and a fifty-two week high of $9.15.

Insider Activity

In other news, major shareholder Holding Uk Ltd Playtika II sold 124,490 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $8.44, for a total value of $1,050,695.60. Following the transaction, the insider now owns 202,673,467 shares of the company’s stock, valued at $1,710,564,061.48. This represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 491,921 shares of company stock valued at $4,004,775 in the last quarter. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Playtika

Several hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its stake in Playtika by 314.3% during the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock worth $344,000 after acquiring an additional 37,625 shares in the last quarter. Neo Ivy Capital Management lifted its stake in Playtika by 756.9% during the 4th quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock worth $423,000 after acquiring an additional 53,849 shares in the last quarter. CSS LLC IL lifted its stake in Playtika by 78.9% during the 4th quarter. CSS LLC IL now owns 50,233 shares of the company’s stock worth $349,000 after acquiring an additional 22,161 shares in the last quarter. Woodline Partners LP lifted its stake in Playtika by 41.4% during the 4th quarter. Woodline Partners LP now owns 449,877 shares of the company’s stock worth $3,122,000 after acquiring an additional 131,669 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Playtika by 411.3% during the 4th quarter. Two Sigma Advisers LP now owns 58,800 shares of the company’s stock worth $408,000 after acquiring an additional 47,300 shares in the last quarter. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.