Playtika (NASDAQ:PLTK) Sees Strong Trading Volume – Still a Buy?

Shares of Playtika Holding Corp. (NASDAQ:PLTK) saw unusually-high trading volume on Friday . Approximately 2,300,204 shares changed hands during mid-day trading, an increase of 154% from the previous session’s volume of 906,729 shares.The stock last traded at $4.16 and had previously closed at $4.37.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLTK. Macquarie reduced their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $6.00 price objective (down from $9.00) on shares of Playtika in a research report on Friday, February 28th. Wedbush reissued an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research report on Wednesday, February 26th. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Citigroup lowered their price target on shares of Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Playtika presently has a consensus rating of “Hold” and a consensus price target of $8.32.

Playtika Stock Down 5.4 %

The firm has a market capitalization of $1.55 billion, a P/E ratio of 7.16, a PEG ratio of 1.69 and a beta of 0.98. The firm has a 50 day moving average of $6.44 and a 200-day moving average of $7.30.

Playtika Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.67%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s payout ratio is currently 90.91%.

Institutional Investors Weigh In On Playtika

Several institutional investors and hedge funds have recently bought and sold shares of PLTK. Sterling Capital Management LLC lifted its holdings in shares of Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after acquiring an additional 1,534 shares during the period. GAMMA Investing LLC lifted its stake in Playtika by 146.0% during the fourth quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after purchasing an additional 2,910 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Playtika by 148.7% in the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after purchasing an additional 3,496 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Playtika in the 3rd quarter valued at $56,000. Finally, R Squared Ltd acquired a new position in shares of Playtika during the 4th quarter worth $57,000. 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.