Playtech (LON:PTEC) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Playtech (LON:PTEC) to a hold rating in a research report report published on Tuesday morning, MarketBeat.com reports. The firm currently has GBX 240 target price on the stock, down from their prior target price of GBX 405.

Several other research firms have also commented on PTEC. Peel Hunt reissued a “buy” rating and issued a GBX 510 target price on shares of Playtech in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Playtech from GBX 417 to GBX 433 and gave the stock a “buy” rating in a research report on Thursday, September 11th.

Playtech Stock Up 8.6%

Shares of LON PTEC opened at GBX 278.50 on Tuesday. The stock has a market capitalization of £845.04 million, a P/E ratio of 0.48, a PEG ratio of 1.28 and a beta of 1.26. The stock’s fifty day moving average is GBX 298.13 and its 200 day moving average is GBX 348.20. Playtech has a 52 week low of GBX 210 and a 52 week high of GBX 447. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55.

Playtech declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 25th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.