Allspring Global Investments Holdings LLC Buys 17,978 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Allspring Global Investments Holdings LLC raised its stake in Playtika Holding Corp. (NASDAQ:PLTK) by 33.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,210 shares of the company’s stock after purchasing an additional 17,978 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Playtika were worth $621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Playtika by 2.1% during the third quarter. AQR Capital Management LLC now owns 5,093,530 shares of the company’s stock worth $49,051,000 after purchasing an additional 106,916 shares during the last quarter. LSV Asset Management grew its holdings in shares of Playtika by 219.3% in the third quarter. LSV Asset Management now owns 4,603,513 shares of the company’s stock valued at $44,332,000 after acquiring an additional 3,161,580 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Playtika by 41.9% during the fourth quarter. Pacer Advisors Inc. now owns 4,494,488 shares of the company’s stock valued at $39,192,000 after acquiring an additional 1,327,596 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Playtika by 185.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,416,137 shares of the company’s stock valued at $23,267,000 after acquiring an additional 1,568,593 shares during the last quarter. Finally, Ibex Investors LLC bought a new stake in Playtika during the third quarter worth $9,695,000. Institutional investors own 11.94% of the company’s stock.

Playtika Price Performance

NASDAQ:PLTK opened at $7.05 on Friday. The company has a market cap of $2.61 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.04 and a beta of 0.84. Playtika Holding Corp. has a 1 year low of $6.25 and a 1 year high of $12.90. The stock’s fifty day moving average price is $7.09 and its two-hundred day moving average price is $7.85.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The company had revenue of $637.90 million for the quarter, compared to analysts’ expectations of $630.26 million. Playtika had a negative return on equity of 81.85% and a net margin of 9.15%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, analysts expect that Playtika Holding Corp. will post 0.69 earnings per share for the current fiscal year.

Playtika Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.40 annualized dividend and a yield of 5.67%. Playtika’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLTK. Morgan Stanley decreased their target price on Playtika from $10.00 to $7.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 27th. Wedbush dropped their target price on shares of Playtika from $14.75 to $11.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. HSBC lowered shares of Playtika from a “buy” rating to a “hold” rating and decreased their price target for the stock from $14.90 to $8.00 in a research note on Monday, January 22nd. Stifel Nicolaus dropped their price objective on Playtika from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Bank of America lowered Playtika from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $11.00 to $8.00 in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.43.

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.