Franklin Resources Inc. Reduces Holdings in Playtika Holding Corp. $PLTK

Franklin Resources Inc. lowered its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 30.1% in the second quarter, HoldingsChannel.com reports. The fund owned 274,583 shares of the company’s stock after selling 118,409 shares during the quarter. Franklin Resources Inc.’s holdings in Playtika were worth $1,299,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Playtika by 366.2% during the 1st quarter. Acadian Asset Management LLC now owns 1,547,829 shares of the company’s stock worth $7,989,000 after purchasing an additional 1,215,843 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Playtika by 143.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 719,263 shares of the company’s stock worth $3,719,000 after buying an additional 423,738 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Playtika by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,610,729 shares of the company’s stock worth $18,667,000 after acquiring an additional 137,482 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Playtika in the first quarter valued at $478,000. Finally, Wolverine Asset Management LLC increased its position in Playtika by 98.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 256,015 shares of the company’s stock worth $1,211,000 after purchasing an additional 126,990 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Playtika Stock Performance

Shares of PLTK stock opened at $4.24 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.97 and a beta of 0.84. Playtika Holding Corp. has a one year low of $3.31 and a one year high of $8.74. The company has a 50 day moving average price of $3.84 and a 200 day moving average price of $4.14.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $674.60 million for the quarter, compared to analyst estimates of $669.60 million. Playtika had a net margin of 3.16% and a negative return on equity of 114.44%. Playtika’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $0.11 EPS. As a group, equities analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Friday, December 26th. Playtika’s dividend payout ratio (DPR) is 166.67%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group reduced their target price on shares of Playtika from $5.50 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Wall Street Zen raised shares of Playtika from a “hold” rating to a “buy” rating in a research note on Saturday. Wedbush restated an “outperform” rating and set a $7.00 target price on shares of Playtika in a research report on Friday, October 31st. Loop Capital set a $3.75 price target on Playtika in a report on Monday, November 3rd. Finally, Weiss Ratings raised Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.00.

Playtika 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.