Traders Buy Large Volume of Call Options on Playtika (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTK) was the target of some unusual options trading activity on Wednesday. Investors acquired 4,603 call options on the stock. This represents an increase of 2,501% compared to the average daily volume of 177 call options.

Playtika Stock Up 22.4 %

Playtika stock traded up $0.98 during trading hours on Wednesday, hitting $5.38. 4,037,996 shares of the company traded hands, compared to its average volume of 998,274. The firm’s 50-day simple moving average is $6.29 and its two-hundred day simple moving average is $7.23. The firm has a market cap of $2.02 billion, a P/E ratio of 9.25, a P/E/G ratio of 1.69 and a beta of 0.98. Playtika has a 1-year low of $3.97 and a 1-year high of $9.16.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s payout ratio is 90.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLTK. Citigroup decreased their price target on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $6.00 to $6.50 in a research report on Wednesday. Macquarie dropped their price target on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $6.00 price objective (down previously from $9.00) on shares of Playtika in a report on Friday, February 28th. Finally, Wedbush reissued an “outperform” rating and set a $11.50 target price on shares of Playtika in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Playtika has an average rating of “Hold” and a consensus target price of $8.09.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Playtika by 5.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,416 shares of the company’s stock valued at $392,000 after buying an additional 2,886 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Playtika by 314.3% in the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock valued at $344,000 after acquiring an additional 37,625 shares in the last quarter. Neo Ivy Capital Management boosted its stake in Playtika by 756.9% in the 4th quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock worth $423,000 after purchasing an additional 53,849 shares during the period. CSS LLC IL grew its position 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 purchasing an additional 22,161 shares in the last quarter. Finally, Woodline Partners LP grew its position 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 purchasing an additional 131,669 shares in the last quarter. Institutional investors 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.