Playtech (LON:PTEC) Trading 10.2% Higher – Here’s What Happened

Playtech plc (LON:PTEC) traded up 10.2% during trading on Wednesday . The stock traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research report on Friday, January 23rd. Jefferies Financial Group cut Playtech to a “hold” rating and cut their target price for the stock from GBX 405 to GBX 240 in a research note on Tuesday, November 25th.

Playtech Stock Down 0.7%

The company has a 50 day moving average price of GBX 283.77 and a two-hundred day moving average price of GBX 322.89. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The stock has a market cap of £986.05 million, a PE ratio of 0.60, a PEG ratio of 1.28 and a beta of 1.26.

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.